New York § 2766 Exemption from taxes, assessments and certain fees

New York Statutes

§ 2766 — Exemption from taxes, assessments and certain fees

New York § 2766

Law PBAPublic Authorities

Title 31Monroe County Airport Authority

Art. 8Miscellaneous Authorities

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Bluebook

N.Y. Public Authorities § 2766 (2026).

Text

§ 2766. Exemption from taxes, assessments and certain fees.

1.The\nauthority shall not be required to pay any fees, taxes, special ad\nvalorem levies or assessments, whether state or local, including but not\nlimited to fees, taxes, special ad valorem levies or assessments on real\nproperty, franchise taxes, sales taxes or other excise taxes, upon any\nproperty owned by it or under its jurisdiction, control or supervision,\nor upon the uses thereof, or upon its activities in the operation and\nmaintenance of its facilities or any fares, tolls, rentals, rates,\ncharges, fees, revenues or other income received by the authority.\nNotwithstanding the previous sentence, the authority shall be required\nto pay water and pure water fees or charges imposed by any public\ncorporation. The author

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§ 2766. Exemption from taxes, assessments and certain fees. 1. The\nauthority shall not be required to pay any fees, taxes, special ad\nvalorem levies or assessments, whether state or local, including but not\nlimited to fees, taxes, special ad valorem levies or assessments on real\nproperty, franchise taxes, sales taxes or other excise taxes, upon any\nproperty owned by it or under its jurisdiction, control or supervision,\nor upon the uses thereof, or upon its activities in the operation and\nmaintenance of its facilities or any fares, tolls, rentals, rates,\ncharges, fees, revenues or other income received by the authority.\nNotwithstanding the previous sentence, the authority shall be required\nto pay water and pure water fees or charges imposed by any public\ncorporation. The authority shall at all times be exempt from any filing,\nmortgage recording or transfer fees or taxes in relation to instruments\nfiled, recorded or transferred by it or on its behalf. The construction,\nuse, occupation or possession of any property owned by the authority or\nthe county, including improvements thereon, by any person or public\ncorporation under a lease, lease and sublease or any other agreement\nshall not operate to abrogate or limit the foregoing exemption,\nnotwithstanding that the lessee, user, occupant or person in possession\nshall claim ownership for federal income tax purposes.\n 2. Any bonds issued pursuant to this title together with the income\ntherefrom as well as the property of the authority shall at all times be\nexempt from taxes, except for transfer and estate taxes. The state\nhereby covenants with the purchasers and with all subsequent holders and\ntransferees of bonds issued by the authority pursuant to this title, in\nconsideration of the acceptance of and payment for the bonds, that the\nbonds of the authority issued pursuant to this title and the income\ntherefrom and all revenues, moneys, and other property pledged to secure\nthe payment of such bonds shall at all times be free from taxation,\nexcept for transfer and estate taxes.\n