New York § 2051-N Exemption from taxes, assessments and certain fees

New York Statutes

§ 2051-N — Exemption from taxes, assessments and certain fees

New York § 2051-N

Law PBAPublic Authorities

Title 13-ICounty of Franklin Solid Waste Management Authority

Art. 8Miscellaneous Authorities

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Bluebook

N.Y. Public Authorities § 2051-N (2026).

Text

§ 2051-n. Exemption from taxes, assessments and certain fees.

1.It is\nhereby determined that the creation of the authority and the carrying\nout of its corporate purposes is in all respects for the benefit of the\npeople of the county and the state and is a public purpose and the\nauthority shall be regarded as performing a governmental function in the\nexercise of the powers conferred upon it by this title and shall not be\nrequired to pay any taxes or assessments upon any property owned by it\nor under its jurisdiction, control or supervision or upon its activities\nor any filing, recording or transfer fees or taxes in relation to\ninstruments filed, recorded or transferred by it or on its behalf. The\nconstruction, use, occupation or possession of any property owned by the\nauthorit

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§ 2051-n. Exemption from taxes, assessments and certain fees. 1. It is\nhereby determined that the creation of the authority and the carrying\nout of its corporate purposes is in all respects for the benefit of the\npeople of the county and the state and is a public purpose and the\nauthority shall be regarded as performing a governmental function in the\nexercise of the powers conferred upon it by this title and shall not be\nrequired to pay any taxes or assessments upon any property owned by it\nor under its jurisdiction, control or supervision or upon its activities\nor any filing, recording or transfer fees or taxes in relation to\ninstruments filed, recorded or transferred by it or on its behalf. The\nconstruction, use, occupation or possession of any property owned by the\nauthority or the county, including improvements thereon, by any person\nor public corporation under a lease, lease and sublease or any other\nagreement shall not operate to abrogate or limit the foregoing\nexemption, notwithstanding that the lessee, user, occupant or person in\npossession shall claim ownership for federal income tax purposes.\nMortgages made or financed, directly or indirectly, by the authority\nshall be exempt from the mortgage recording taxes imposed by article\neleven of the tax law. The authority shall be deemed a public authority\nfor the purposes of section four hundred twelve of the real property tax\nlaw.\n 2. Any bonds issued pursuant to this title together with the income\ntherefrom as well as the property of the authority shall be exempt from\ntaxes, except for transfer and estate taxes. The state hereby covenants\nwith the purchasers and with all subsequent holders and transferees of\nbonds issued by the authority pursuant to this title, in consideration\nof the acceptance of any payment for the bonds, that the bonds of the\nauthority issued pursuant to this title and the income therefrom and all\nrevenues, moneys, and other property pledged to secure the payment of\nsuch bonds shall at all times be free from taxation, except for transfer\nand estate taxes.\n