§ 489-BBBBBB — Power to enact local law; industrial and commercial real property tax abatement

New York § 489-BBBBBB

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Title 2-F: Abatement of Tax Payments For Certain Industrial and Commercial Properties In a City of One Million or More Persons
• Art. 4: Exemptions

Text

§ 489-bbbbbb. Power to enact local law; industrial and commercial real\nproperty tax abatement. 1. Authority to enact local law. Any city having\na population of one million or more, acting through its local\nlegislative body, is authorized and empowered to determine that\nincentives in the form of abatement of real property taxes are necessary\nto encourage industrial and commercial development in such city and to\nenact a local law providing that such benefits shall be provided in the\nmanner set forth in this title.\n 2. Amount of abatement base. (a) Calculation of abatement base. Except\nas provided in paragraph (e) of subdivision three of this section, the\nabatement base used to determine the amount of the abatement provided\nunder this title shall be the amount by which the post-completion tax on\na building or structure exceeds one hundred fifteen percent of the\ninitial tax levied on a building or structure.\n (b) Initial tax on building or structure. (i) Determination of initial\ntax. The initial tax shall be determined by multiplying the final\ntaxable assessed value, without regard to any exemptions, shown on the\nassessment roll with a taxable status date immediately preceding the\nissuance of the first building permit by the initial tax rate. For\npurposes of this subdivision, the initial tax rate shall be the final\ntax rate applicable to the assessment roll with a taxable status date\nimmediately preceding the issuance of the first building permit. If no\npermit was required, the initial tax and the initial tax rate shall be\ndetermined based on the assessment roll with a taxable status date\nimmediately preceding the commencement of construction.\n (ii) Effect of tax lot apportionment or merger. For a property as to\nwhich an applicant has applied for benefits pursuant to this title, if\nsuch property is apportioned or merged and such apportionment or merger\nis not reflected in the assessment roll described in subparagraph (i) of\nthis paragraph, the initial tax for the newly created tax lot or lots\nshall be based on the initial tax of the lot or lots from which they\nhave been created, which shall be apportioned among the newly created\ntax lot or lots in the manner established by the department for purposes\nof assessed valuation of real property.\n (c) Post-completion tax on building or structure. For purposes of\ncalculating the abatement base only, the post-completion tax is\ndetermined by multiplying the initial tax rate by the final taxable\nassessed value, without regard to any exemptions, that would be shown on\nthe assessment roll but for the abatement, on the assessment roll with a\ntaxable status date immediately following the earlier of:\n (i) completion of construction; or\n (ii) four years from the date of issuance of the first building\npermit, or if no permit was required, the commencement of construction.\n (d) (i) If the taxable assessed value is later reduced by a court\norder or application to the tax commission, then the initial tax or the\npost-completion tax shall be the tax as reduced.\n (ii) The taxable assessed value used for the calculations in this\nsubdivision shall be the lower of the actual and transitional value as\nprovided in subdivision three of section eighteen hundred five of this\nchapter.\n (e) Mixed-use property. For a mixed-use property, the initial tax and\npost-completion tax shall be apportioned between the residential and\nnonresidential portions. The department may promulgate rules to\ndetermine the method of apportionment.\n (f) Initial taxes not to be reduced by abatement. Except as provided\nin paragraph (e) of subdivision three of this section, the abatement\nprovided under this title shall not be applicable in any year of the\nbenefit period to the initial tax or to the tax on the portion of the\nassessment attributable to land. Additionally, the abatement shall not\nresult in any credit or refund of real property taxes.\n 3. Industrial and commercial abatements. (a) Abatement for commercial\nconstruction work. Upon approval by the department of a final\napplication for benefits, an applicant who has performed commercial\nconstruction work outside of a special commercial abatement area, as\ndesignated pursuant to subdivision two of section four hundred\neighty-nine-gggggg of this title, or a renovation area, as defined by\nsubdivision three of section four hundred eighty-nine-gggggg of this\ntitle, shall be eligible for an abatement of real property taxes, as\nfollows:\n (i) Amount of abatement. The first year of the abatement shall be the\ntax year with the first taxable status date that follows the sooner of\n(A) completion of construction; or (B) four years from the date the\nfirst building permit was issued, or if no permit was required, the\ncommencement of construction. For years one through eleven, the\nabatement shall be the amount of the abatement base. For years twelve\nthrough fifteen, the abatement shall decrease by twenty percent each\nyear. The following table illustrates the abatement computation:\nTax year during benefit period: Amount of abatement:\n Years 1 through 11 100% of abatement base\n 12 80% of abatement base\n 13 60% of abatement base\n 14 40% of abatement base\n 15 20% of abatement base\n (ii) Minimum required expenditure. For commercial construction work,\nthe minimum required expenditure is thirty percent of the property's\ntaxable assessed value in the tax year with a taxable status date\nimmediately preceding the issuance of the first building permit, or if\nno permit was required, the commencement of construction. Expenditures\nfor residential construction work or construction work on portions of\nproperty to be used for restricted activities shall not be included in\nthe minimum required expenditure.\n (b) Abatement for industrial construction work or commercial\nconstruction work in special commercial abatement areas on buildings\nwhere not more than ten percent of the building or structure is used for\nretail purposes. Upon approval by the department of a final application\nfor benefits, an applicant who has performed industrial construction\nwork in any area, where not more than ten percent of the building or\nstructure on which such work has been performed is used for retail\npurposes, or commercial construction work in a special commercial\nabatement area, as designated pursuant to subdivision two of section\nfour hundred eighty-nine-gggggg of this title, where not more than ten\npercent of the building or structure on which such work has been\nperformed is used for retail purposes, shall be eligible for an\nabatement of real property taxes, as follows:\n (i) Amount of abatement. The first year of the abatement shall be the\ntax year with the first taxable status date that follows the sooner of\n(A) completion of construction; or (B) four years from the date the\nfirst building permit was issued, or if no permit was required, the\ncommencement of construction. For years one through sixteen, the\nabatement shall be the amount of the abatement base. The abatement shall\nbe adjusted for inflation protection as provided in subparagraph (ii) of\nthis paragraph. For years seventeen through twenty-five, the abatement\nshall decrease by ten percent each year. The following table illustrates\nthe abatement computation:\nTax year during benefit period: Amount of abatement:\n Years 1 through 16 100% of abatement base\n 17 90% of abatement base\n 18 80% of abatement base\n 19 70% of abatement base\n 20 60% of abatement base\n 21 50% of abatement base\n 22 40% of abatement base\n 23 30% of abatement base\n 24 20% of abatement base\n 25 10% of abatement base\n (ii) Inflation protection. (A) Industrial construction work. (I)\nEffect of assessed valuation increases. For years two through thirteen\nof the benefit period, except as provided in item (II) of this clause,\nif there is any increase in tax in that year that is based on an\nincrease of taxable assessed valuation since the immediately prior tax\nyear, such excess tax liability shall be added to the amount of the\nabatement base. Such addition to the amount of the abatement base shall\nbe determined using the initial tax rate.\n (II) Physical increases. Notwithstanding the provisions of item (I) of\nthis clause, if in any of years two through thirteen of the benefit\nperiod, a physical change to the property results in an increase in the\ntaxable assessed value of the property of more than five percent for\nthat year, then any increase in taxes for that year shall not be added\nto the amount of the abatement base in any year.\n (III) If the taxable assessed value upon which an adjustment to the\nabatement under this paragraph is based is later reduced by a court\norder or application to the tax commission, then the appropriate\nadjustment to the abatement base shall be made in accordance with the\nreduced taxable assessed value.\n (B) Commercial construction work in special commercial abatement areas\non buildings where not more than ten percent of the building or\nstructure is used for retail purposes. (I) Effect of assessed valuation\nincreases. For years two through thirteen of the benefit period, except\nas provided in item (II) of this clause, if there is any increase in tax\nin that year that is based on an increase of taxable assessed valuation\nsince the immediately prior tax year that exceeds five percent, such\nexcess tax liability shall be added to the amount of the abatement base.\nSuch addition to the amount of the abatement base shall be determined\nusing the initial tax rate.\n (II) Physical increases. Notwithstanding the provisions of item (I) of\nthis clause, if in any of years two through thirteen of the benefit\nperiod, a physical change to the property results in an increase in the\ntaxable assessed value of the property of more than five percent for\nthat year, then any increase in taxes for that year shall not be added\nto the amount of the abatement base in any year.\n (III) If the taxable assessed value upon which an adjustment to the\nabatement under this paragraph is based is later reduced by a court\norder or application to the tax commission, then the appropriate\nadjustment to the abatement base shall be made in accordance with the\nreduced taxable assessed value.\n (C) Mixed-use property. For a property as to which benefits are given\nfor both industrial and commercial construction, the inflation\nprotection provided under this subparagraph shall be based on the\npredominant use of the property as determined by the department.\n (iii) Minimum required expenditure. For industrial construction work\nor commercial construction work in a special commercial abatement area,\nthe minimum required expenditure is thirty percent of the property's\ntaxable assessed value in the tax year with a taxable status date\nimmediately preceding the issuance of the first building permit, or if\nno permit was required, the commencement of construction. Expenditures\nfor residential construction work or construction work on portions of\nproperty to be used for restricted activities shall not be included in\nthe minimum required expenditure.\n (b-1) Abatement for industrial construction work on a peaking unit.\nUpon approval by the department of a final application for benefits, an\napplicant who has performed industrial construction work in any area on\na peaking unit, shall be eligible for an abatement of real property\ntaxes, as follows:\n (i) Amount of abatement. The first year of the abatement shall be the\ntax year with the first taxable status date that follows the sooner of\n(A) completion of construction; or (B) four years from the date the\nfirst building permit was issued, or if no permit was required, the\ncommencement of construction. For years one through fifteen, the\nabatement shall be the amount of the abatement base. The abatement shall\nbe adjusted for inflation protection as provided in subparagraph (ii) of\nthis paragraph. The following table illustrates the abatement\ncomputation:\nTax year during benefit period: Amount of abatement:\nYears 1 through 15 100% of abatement base\n (ii) Inflation protection. (A) Industrial construction work, effect of\nassessed valuation increases. For years two through thirteen of the\nbenefit period, except as provided in clause (B) of this subparagraph,\nif there is any increase in tax in that year that is based on an\nincrease of taxable assessed valuation since the immediately prior tax\nyear, such excess tax liability shall be added to the amount of the\nabatement base. Such addition to the amount of the abatement base shall\nbe determined using the initial tax rate.\n (B) Physical increases. Notwithstanding the provisions of clause (A)\nof this subparagraph, if in any of years two through thirteen of the\nbenefit period, a physical change to the property results in an increase\nin the taxable assessed value of the property of more than five percent\nfor that year, then any increase in taxes for that year shall not be\nadded to the amount of the abatement base in any year.\n (C) If the taxable assessed value upon which an adjustment to the\nabatement under this paragraph is based is later reduced by a court\norder or application to the tax commission, then the appropriate\nadjustment to the abatement base shall be made in accordance with the\nreduced taxable assessed value.\n (iii) Minimum required expenditure. For industrial construction work\non a peaking unit, the minimum required expenditure is thirty percent of\nthe property's taxable assessed value in the tax year with a taxable\nstatus date immediately preceding the issuance of the first building\npermit, or if no permit was required, the commencement of construction.\nExpenditures for residential construction work or construction work on\nportions of property to be used for restricted activities shall not be\nincluded in the minimum required expenditure.\n (c) Abatement for industrial construction work or commercial\nconstruction work in special commercial abatement areas on buildings\nwhere more than ten percent of the building or structure is used for\nretail purposes. Upon approval by the department of a final application\nfor benefits, an applicant who has performed industrial construction\nwork in any area, where more than ten percent of the building or\nstructure on which such work has been performed is used for retail\npurposes, or commercial construction work in a special commercial\nabatement area, as designated pursuant to subdivision two of section\nfour hundred eighty-nine-gggggg of this title, where more than ten\npercent of the building or structure on which such work has been\nperformed is used for retail purposes, shall be eligible for an\nabatement of real property taxes on the non-retail portion of such\nbuilding or structure and up to ten percent of such building or\nstructure used for retail purposes, in accordance with paragraph (b) of\nthis subdivision, and shall be eligible for an abatement of real\nproperty taxes on the remaining retail portion of such building or\nstructure, as follows:\n (i) Amount of abatement. The first year of the abatement shall be the\ntax year with the first taxable status date that follows the sooner of\n(A) completion of construction; or (B) four years from the date the\nfirst building permit was issued, or if no permit was required, the\ncommencement of construction. For years one through eleven, the\nabatement shall be the amount of the abatement base. For years twelve\nthrough fifteen, the abatement shall decrease by twenty percent each\nyear. The abatement shall be adjusted for inflation protection as\nprovided in subparagraph (ii) of this paragraph. The following table\nillustrates the abatement computation:\nTax year during benefit period: Amount of abatement:\n Years 1 through 11 100% of abatement base\n 12 80% of abatement base\n 13 60% of abatement base\n 14 40% of abatement base\n 15 20% of abatement base\n (ii) Inflation protection. (A) Industrial construction work. (I)\nEffect of assessed valuation increases. For years two through thirteen\nof the benefit period, except as provided in item (II) of this clause,\nif there is any increase in tax in that year that is based on an\nincrease of taxable assessed valuation since the immediately prior tax\nyear, such excess tax liability shall be added to the amount of the\nabatement base. Such addition to the amount of the abatement shall be\ndetermined using the initial tax rate.\n (II) Physical increases. Notwithstanding the provisions of item (I) of\nthis clause, if in any of years two through thirteen of the benefit\nperiod, a physical change to the property results in an increase in the\ntaxable assessed value of the property of more than five percent for\nthat year, then any increase in taxes for that year shall not be added\nto the amount of the abatement base in any year.\n (III) If the taxable assessed value upon which an adjustment to the\nabatement under this paragraph is based is later reduced by a court\norder or application to the tax commission, then the appropriate\nadjustment to the abatement base shall be made in accordance with the\nreduced taxable assessed value.\n (B) Commercial construction work in special commercial abatement areas\non buildings where more than ten percent of the building or structure is\nused for retail purposes. (I) Effect of assessed valuation increases.\nFor years two through thirteen of the benefit period, except as provided\nin item (II) of this clause, if there is any increase in tax in that\nyear that is based on an increase of taxable assessed valuation since\nthe immediately prior tax year that exceeds five percent, such excess\ntax liability shall be added to the amount of the abatement base. Such\naddition to the amount of the abatement base shall be determined using\nthe initial tax rate.\n (II) Physical increases. Notwithstanding the provisions of item (I) of\nthis clause, if in any of years two through thirteen of the benefit\nperiod, a physical change to the property results in an increase in the\ntaxable assessed value of the property of more than five percent for\nthat year, then any increase in taxes for that year shall not be added\nto the amount of the abatement base in any year.\n (III) If the taxable assessed value upon which an adjustment to the\nabatement under this paragraph is based is later reduced by a court\norder or application to the tax commission, then the appropriate\nadjustment to the abatement base shall be made in accordance with the\nreduced taxable assessed value.\n (C) Mixed-use property. For a property as to which benefits are given\nfor both industrial and commercial construction, the inflation\nprotection provided under this subparagraph shall be based on the\npredominant use of the property as determined by the department.\n (iii) Minimum required expenditure. For industrial construction work\nor commercial construction work in a special commercial abatement area,\nthe minimum required expenditure is thirty percent of the property's\ntaxable assessed value in the tax year with a taxable status date\nimmediately preceding the issuance of the first building permit, or if\nno permit was required, the commencement of construction. Expenditures\nfor residential construction work or construction work on portions of\nproperty to be used for restricted activities shall not be included in\nthe minimum required expenditure.\n (d) Abatement for renovation construction work in renovation areas.\nSubject to the provisions of subparagraph (iii) of this paragraph, upon\napproval by the department of a final application for benefits, an\napplicant who has performed renovation construction work in a renovation\narea, as defined by subdivision three of section four hundred\neighty-nine-gggggg of this title, shall be eligible for an abatement of\nreal property taxes, as follows:\n (i) Amount of abatement. For the renovation areas defined in\nparagraphs (a) and (b) of subdivision three of section four hundred\neighty-nine-gggggg of this title, the first year of the abatement shall\nbe the tax year with the first taxable status date that follows the\nsooner of (A) completion of construction; or (B) four years from the\ndate the first building permit was issued, or if no permit was required,\nthe commencement of construction. For years one through eight, the\nabatement shall be the amount of the abatement base. For years nine\nthrough twelve, the abatement shall decrease by twenty percent each\nyear. The following table illustrates the abatement computation:\nTax year during benefit period: Amount of abatement:\n Years 1 through 8 100% of abatement base\n 9 80% of abatement base\n 10 60% of abatement base\n 11 40% of abatement base\n 12 20% of abatement base\n (ii) Amount of abatement. For the renovation area defined in paragraph\n(c) of subdivision three of section four hundred eighty-nine-gggggg of\nthis title, the first year of the abatement shall be the tax year with\nthe first taxable status date that follows the sooner of (A) completion\nof construction; or (B) four years from the date the first building\npermit was issued, or if no permit was required, the commencement of\nconstruction. For years one through five, the abatement shall be the\namount of the abatement base. For years six through nine, the abatement\nshall decrease by twenty percent each year. In year ten, the abatement\nshall be twenty percent of the abatement base. The following table\nillustrates the abatement computation:\nTax year during benefit period: Amount of abatement:\n Years 1 through 5 100% of abatement base\n 6 80% of abatement base\n 7 60% of abatement base\n 8 40% of abatement base\n 9 20% of abatement base\n 10 20% of abatement base\n (iii) If more than five percent of any building or structure upon\nwhich renovation construction work is performed is used for retail\npurposes, no abatement shall be granted for the retail portions of such\nbuilding or structure in excess of five percent, but five percent of\nsuch building or structure used for retail purposes shall be eligible\nfor an abatement of real property taxes in accordance with subparagraph\n(i) or subparagraph (ii) of this paragraph, as applicable; provided,\nhowever, that notwithstanding any other provision of this title, any\nbuilding or structure located in the renovation area defined in\nparagraph (a) of subdivision three of section four hundred\neighty-nine-gggggg of this title shall be eligible for an abatement in\naccordance with subparagraph (i) of this paragraph regardless of the\namount of the building or structure used for retail purposes.\n (iv) Minimum required expenditure. For renovation construction work in\nrenovation areas, the minimum required expenditure is thirty percent of\nthe property's taxable assessed value in the tax year with a taxable\nstatus date immediately preceding the issuance of the first building\npermit, or if no permit was required, the commencement of construction.\nExpenditures for construction work on portions of the property to be\nused for retail purposes that exceed five percent of the building or\nstructure in renovation areas defined in paragraphs (b) and (c) of\nsubdivision three of section four hundred eighty-nine-gggggg of this\ntitle, for residential construction work, or for construction work on\nportions of the property to be used for restricted activities, shall not\nbe included in the minimum required expenditure.\n (e) Additional industrial abatement. In addition to the abatement for\nindustrial construction work provided in paragraph (b) of this\nsubdivision, an applicant who performs industrial construction work that\nmeets the eligibility requirements set forth in this title shall be\neligible for an additional abatement, calculated as a percentage of the\ninitial tax, as follows:\n (i) Amount of abatement. The first year of the abatement shall be the\ntax year with the first taxable status date that follows the sooner of\n(A) completion of construction; or (B) four years from the date the\nfirst building permit was issued, or if no permit was required, the\ncommencement of construction. The amount of the additional industrial\nabatement shall be as follows:\nTax year during benefit period: Amount of additional abatement:\n 1 through 4 50% of the initial tax amount\n 5 40% of the initial tax amount\n 6 40% of the initial tax amount\n 7 30% of the initial tax amount\n 8 30% of the initial tax amount\n 9 20% of the initial tax amount\n 10 20% of the initial tax amount\n 11 10% of the initial tax amount\n 12 10% of the initial tax amount\n (ii) Minimum required expenditure. For the additional industrial\nabatement, the minimum required expenditure is forty percent of the\nproperty's taxable assessed value in the tax year with a taxable status\ndate immediately preceding the issuance of the first building permit, or\nif no permit was required, the commencement of construction.\nExpenditures for residential construction work or construction work on\nportions of property to be used for restricted activities shall not be\nincluded in the minimum required expenditure.\n (f) Abatement for commercial construction work on new construction in\ncertain areas of the borough of Manhattan. Notwithstanding any other\nprovision of law, upon approval by the department of a final application\nfor benefits, an applicant who has performed commercial construction\nwork on a new building or structure, in the geographical area as\nspecified in subparagraph (iv) of this paragraph, shall be eligible for\nan abatement of real property taxes, as follows:\n (i) Amount of abatement. The first year of the abatement shall be the\ntax year with the first taxable status date that follows the sooner of\n(A) completion of construction; or (B) four years from the date the\nfirst building permit was issued, or if no permit was required, the\ncommencement of construction. For years one through four, the abatement\nshall be the amount of the abatement base. For years five through eight,\nthe abatement shall decrease by twenty percent each year. The following\ntable illustrates the abatement computation:\nTax year during benefit period: Amount of abatement:\n Years 1 through 4 100% of abatement base\n 5 80% of abatement base\n 6 60% of abatement base\n 7 40% of abatement base\n 8 20% of abatement base\n (ii) Minimum required expenditure. The minimum required expenditure is\nthirty percent of the property's taxable assessed value in the tax year\nwith a taxable status date immediately preceding the issuance of the\nfirst building permit, or if no permit was required, the commencement of\nconstruction. Expenditures for residential construction work or\nconstruction work on portions of property to be used for restricted\nactivities shall not be included in the minimum required expenditure.\n (iii) Special eligibility requirements. Notwithstanding any other\nprovision of this title, no benefits shall be granted pursuant to this\nparagraph unless the building or structure meets the requirements of\nclauses (A) and (B) of this subparagraph, and further meets at least two\nof the requirements set forth in clauses (C) through (G) of this\nsubparagraph:\n (A) The height of at least forty percent of the floors in such\nbuilding or structure shall be not less than twelve feet, nine inches\nmeasured from the top of the slab comprising the floor to the bottom of\nthe slab comprising the ceiling;\n (B) Such building or structure shall be served by fiber-optic\ntelecommunications wiring and shall contain vertical penetrations for\nthe distribution of fiber optic cabling to individual tenants on each\nfloor;\n (C) The total square footage of such building or structure is not less\nthan five hundred thousand gross square feet;\n (D) A minimum of two hundred thousand gross square feet or twenty-five\nper centum of such building or structure is comprised of floors of not\nless than forty thousand gross square feet;\n (E) At least ten per centum of the gross square footage of such\nbuilding or structure is comprised of floors that contain no more than\neight structural columns, excluding any columns within the core or on\nthe periphery of such building or structure;\n (F) The electrical capacity of such building or structure is not less\nthan six watts per net square foot;\n (G) Emergency backup power sufficient to accommodate a need of six\nwatts per net square foot is available in at least two hundred thousand\ngross square feet or twenty-five per centum of such building or\nstructure.\n (iv) Geographical area. Abatements will only be granted for new\nconstruction work pursuant to this paragraph in the following\ngeographical area: the area in the borough of Manhattan bounded by\nMurray Street on the north starting at the intersection of West Street\nand Murray Street; running easterly along the center line of Murray\nStreet; connecting through City Hall Park with the center line of\nFrankfort Street and running easterly along the center line of Frankfort\nand Dover Streets to the intersection of Dover Street and South Street;\nrunning southerly along the center line of South Street to Peter Minuit\nPlaza; connecting through Peter Minuit Plaza to the center line of State\nStreet and running northwesterly along the center line of State Street\nto the intersection of State Street and Battery Place; running westerly\nalong the center line of Battery Place to the intersection of Battery\nPlace and West Street; and running northerly along the center line of\nWest Street to the intersection of West Street and Murray Street, except\nthe area in the borough of Manhattan bounded by Church Street on the\neast starting at the intersection of Liberty Street and Church Street;\nrunning northerly along the center line of Church Street to the\nintersection of Church Street and Vesey Street; running westerly along\nthe center line of Vesey Street to the intersection of Vesey Street and\nWest Broadway; running northerly along the center line of West Broadway\nto the intersection of West Broadway and Barclay Street; running\nwesterly along the center line of Barclay Street to the intersection of\nBarclay Street and Washington Street; running southerly along the center\nline of Washington Street to the intersection of Washington Street and\nVesey Street; running westerly along the center line of Vesey Street to\nthe intersection of Vesey Street and West Street; running southerly\nalong the center line of West Street to the intersection of West Street\nand Liberty Street; and running easterly along the center line of\nLiberty Street to the intersection of Liberty Street and Church Street.\n 4. Limitations on abatement. (a) Subsequent abatement. With respect to\nany property that has received or is receiving abatement benefits under\nthis title, an applicant shall not file a preliminary application for\nnew abatement benefits under this title for an additional construction\nproject on the same portion of the property for which construction work\nis the subject of abatement benefits under this title until at least\nfour years have elapsed since the first day of the first tax year of\nsuch abatement benefits under the prior abatement, and, in the event\nthat such new benefits are granted, then notwithstanding any other\nprovision of this title or any other law, the initial tax for any such\nnew abatement will be determined without regard to the prior abatement\nand any other abatement or exemption granted to the property.\n (b) Abatement benefits granted under this title shall not in any year\nexceed the real property taxes imposed on such property.\n (c) Once an abatement is granted, no additional benefits pursuant to\nthis title shall be granted for construction work that is substantively\na part of eligible construction work for which benefits have been\napproved or granted.\n (d) No benefits shall be granted for residential construction work.\n (e) Any parcel partly located in an excluded area shall be deemed to\nbe entirely located in such area.\n (f) Where a tax lot contains multiple structures or buildings with\neligible and non-eligible uses, the initial tax shall be apportioned\nunder rules promulgated by the commissioner and only the tax\nattributable to the eligible portion of the property shall be abated.\n (g) (i) No benefits under this title may be received by a property\nthat is concurrently receiving exemption or abatement of real property\ntaxes under any other law, except for an exemption under (A) section\nfour hundred twenty-a, four hundred twenty-b or four hundred\nfifty-nine-b of this chapter; or (B) any section of this chapter as to\nwhich a city that has enacted a local law pursuant to this title has\nalso enacted a local law to implement such exemption and as to which\nexemption is granted only if the property is the primary or legal\nresidence of one or more of the owners of the property, including such\nsections in which exemption may be granted if an owner is absent from\nthe residence while receiving medical benefits; or (C) title two-D of\nthis article for a separate project involving separate parts of the\nbuilding or structure that was completed prior to the application for\nbenefits.\n (ii) For purposes of this paragraph, "property" means the real\nproperty contained by an individual tax lot.\n (iii) Notwithstanding subparagraph (ii) of this paragraph, where a\nproperty is owned in condominium form, and an application for benefits\nunder this title includes more than one tax lot in the same condominium,\nthen for purposes of this paragraph, "property" shall include any or all\nsuch tax lots that are included in the application.\n