§ 302 — Taxable status date

New York § 302

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Title 1: Assessment of Real Property
• Art. 3: Taxable Real Property and Standard of Assessment

Text

§ 302. Taxable status date. 1. The taxable status of real property in\ncities and towns shall be determined annually according to its condition\nand ownership as of the first day of March and the valuation thereof\ndetermined as of the applicable valuation date. The taxable status of\nreal property in a city or town not subject to the provisions of this\nsection shall be determined as of the date provided by law applicable to\nsuch city or town, or if not so provided, then as of the date the\nassessment roll is completed and filed prior to the hearing of\ncomplaints in connection therewith. The date of taxable status of the\nreal property contained on any assessment roll shall be imprinted or\notherwise indicated at the top of the first page of each volume of such\nroll.\n 2. The taxable status date of real property assessed for school\ndistrict and village purposes shall be determined in accordance with\nsections thirteen hundred two and fourteen hundred of this chapter,\nrespectively. The date of taxable status of the real property contained\non any village assessment roll shall be imprinted or otherwise indicated\nat the top of the first page of each volume of such roll.\n 3. Notwithstanding any other provision of law to the contrary,\nwhenever any person, association or corporation not entitled to an\nexemption from taxation acquires title to property which is exempt, in\nwhole or in part, from taxation, such property shall be immediately\nsubject to taxation pursuant to section five hundred twenty of this\nchapter, except that, in cities with a population of one million or\nmore, such property shall become subject to taxation pursuant to section\nfour hundred ninety-four of this chapter.\n 4. The taxable status of a special franchise shall be determined on\nthe basis of its value and its ownership as of the first day of January\nof the year preceding the year in which the assessment roll on which\nsuch property is to be assessed is completed and filed in the office of\nthe city or town clerk, except that taxable status of such properties\nshall be determined on the basis of ownership as of the first day of\nJanuary of the second year preceding the date required by law for the\nfiling of the final assessment roll for purposes of all village\nassessment rolls.\n 5. Notwithstanding any other provision of law to the contrary, in a\ncity with a population of one million or more, whenever any corporation\nor association entitled to exemption from taxation pursuant to paragraph\n(a) of subdivision one of section four hundred twenty-a or paragraph (a)\nof subdivision one of section four hundred twenty-b of this chapter, or\nany local law adopted pursuant to such provisions, acquires title to\nreal property that is not exempt, in whole or in part, from taxation,\nsuch property shall, provided that it otherwise qualifies for exemption\npursuant to such provisions, be immediately subject to exemption from\ntaxation in accordance with section four hundred ninety-four-a of this\nchapter.\n