§ 499-A — Definitions

New York § 499-A

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

Text

§ 499-a. Definitions. When used in this title, the following terms\nshall mean or include:\n 1. "Abatement base." The lesser of (a) two dollars and fifty cents of\nthe tax liability per square foot or (b) fifty per centum of the tax\nliability per square foot; provided, however, that with respect to a\nlease commencing on or after April first, nineteen hundred ninety-seven,\nthe abatement base shall equal the tax liability per square foot subject\nto a maximum of two dollars and fifty cents per square foot.\n 2. "Abatement zone." Any area of a city having a population of one\nmillion or more, provided that in the city of New York the abatement\nzone shall be the area in the borough of Manhattan bounded by Murray\nStreet on the north starting at the intersection of West Street and\nMurray Street; running easterly along the center line of Murray Street,\nconnecting through City Hall Park with the center line of Frankfort\nStreet and running easterly along the center lines of Frankfort and\nDover 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. Any\ntax lot which is partly located inside the abatement zone shall be\ndeemed to be entirely located inside such area.\n 3. "Aggregate floor area." The sum of the gross areas of the several\nfloors of a building, measured from the exterior faces of exterior walls\nor from the center lines of walls separating two buildings.\n 4. "Applicant." The landlord and the tenant.\n 5. "Benefit period." The period commencing with the first day of the\nmonth immediately following the rent commencement date and terminating\nno later than sixty months thereafter, provided, however, that with\nrespect to a lease commencing on or after April first, nineteen hundred\nninety-seven with an initial lease term of less than five years, but not\nless than three years, the period commencing with the first day of the\nmonth immediately following the rent commencement date and terminating\nno later than thirty-six months thereafter. Notwithstanding the\nforegoing sentence, a benefit period shall expire no later than March\nthirty-first, two thousand thirty-four.\n 6. "Billable assessed value." The lesser of the taxable transitional\nor the taxable actual assessed value of the eligible building and the\nland on which the eligible building is located for the fiscal year in\nwhich the benefit period commences, as computed pursuant to subdivision\nthree of section one thousand eight hundred five of this chapter.\n 7. "Department of finance." The department of finance of any city\nhaving a population of one million or more.\n 8. "Eligible building." A non-residential or mixed-use building\nlocated in the abatement zone which received its initial certificate of\noccupancy or initial temporary certificate of occupancy prior to January\nfirst, nineteen hundred seventy-five; provided that if no certificate of\noccupancy was required at the time the building was constructed, other\nproof acceptable to the department of finance is submitted which\ndemonstrates that the building was constructed prior to January first,\nnineteen hundred seventy-five; and provided further that eligible\nbuilding shall not include any building owned by a governmental agency.\nEach condominium unit in a building which meets the requirements of this\nsubdivision shall be considered a separate eligible building.\n 9. "Eligibility period." The period commencing April first, nineteen\nhundred ninety-five and terminating March thirty-first, two thousand\ntwenty-eight.\n 10. "Eligible premises." Premises located in an eligible building\nwhich (a) are (i) occupied or used as offices (including ancillary\nuses); or (ii) occupied or used as retail space; or (iii) occupied or\nused as a private elementary or secondary school and (b) are occupied or\nused by a tenant under a lease which meets the eligibility requirements\nof section four hundred ninety-nine-c of this title.\n 11. "Expansion premises." Eligible premises leased by an expansion\ntenant to accommodate additional employees.\n 12. "Expansion tenant." A person who (a) occupies premises in an\neligible building under a lease which does not expire during the\neligibility period and (b) executes a lease for expansion premises in\nsuch eligible building or in another eligible building which lease meets\nthe eligibility requirements of section four hundred ninety-nine-c of\nthis title. For purposes of determining whether expansion premises are\nlocated in the same or in another eligible building, the last sentence\nof subdivision eight of this section shall not be applicable.\n 13. "Fiscal year." The fiscal year of any city having a population of\none million or more.\n 14. "Governmental agency." The United States of America or any agency\nor instrumentality thereof, the state of New York, the city of New York,\nany public corporation (including a body corporate and politic created\npursuant to agreement or compact between the state of New York and any\nother state), public benefit corporation, public authority or other\npolitical subdivision of the state.\n 15. "Landlord." Any person who (a) controls all non-residential\nportions of an eligible building, including, without limitation, the\nrecord owner, the lessee under a ground lease, any mortgagee in\npossession or any receiver, and (b) who grants the right to use or\noccupy eligible premises to any tenant, provided that landlord shall not\ninclude any lessee who at any time during the lease term occupied or\nused or occupies or uses any part of the non-residential portions of\nsuch eligible building, other than premises occupied or used by such\nlessee to provide rental or management services to such building.\n 16. "Lease commencement date." The date set forth in the lease on\nwhich the term of the lease commences.\n 17. "Mixed-use building." A building used for both residential and\ncommercial purposes, provided that more than twenty-five per centum of\nthe aggregate floor area of such building is used or held out for use as\ncommercial, community facility or accessory use space.\n 18. "New tenant." A person who (a) (i) is relocating or expanding from\npremises in a relocation area to eligible premises, or (ii) occupies\npremises in an eligible building under a lease which expires during the\neligibility period and is relocating or expanding to eligible premises,\nor (iii) occupies premises in the abatement zone in a building which is\nnot an eligible building and is relocating or expanding to eligible\npremises, or (iv) does not occupy any premises immediately prior to\nexecuting a lease for eligible premises, or (v) is an owner of a\nbuilding in the abatement zone who is relocating or expanding to\neligible premises, and (b) executes a lease which meets the eligibility\nrequirements of section four hundred ninety-nine-c of this title.\n 19. "Person." An individual, corporation, limited liability company,\npartnership, association, agency, trust, estate, foreign or domestic\ngovernment or subdivision thereof, or other entity.\n 20. "Relocation area." The area in the borough of Manhattan south of\nthe center line of 96th Street or any area outside the city of New York;\nprovided that the abatement zone shall not be a relocation area.\n 21. "Renewal tenant." A person who (a) occupies premises in an\neligible building under a lease which expires during the eligibility\nperiod and (b) executes a lease for the continued occupancy of all or\npart of such premises or all or part of such premises and additional\npremises in such eligible building, provided such premises are eligible\npremises and such lease meets the eligibility requirements of section\nfour hundred ninety-nine-c of this title.\n 22. "Rent commencement date." The date set forth in the lease on which\nthe obligation to pay basic fixed rent shall commence.\n 23. "Subtenant." A person whose right to occupy and use the eligible\npremises is not derived from a lease with the landlord.\n 24. "Tax commission." The tax commission in any city having a\npopulation of one million or more.\n 25. "Tax liability." The product obtained by multiplying the billable\nassessed value for the fiscal year in which the benefit period commences\nby the tax rate applicable to the eligible building for such fiscal year\nas set by the local legislative body of any city having a population of\none million or more.\n 26. "Tax liability per square foot." The tax liability divided by the\ntotal number of square feet in the eligible building, as listed on the\nrecords of the department of finance.\n 27. "Tenant." A person (including any successors in interest) who\nexecutes a lease with the landlord for the right to occupy or use the\neligible premises and who occupies or uses the eligible premises\npursuant to such lease. Tenant shall not include any subtenant. When\nused in this title, "tenant" includes "expansion tenant," "new tenant"\nand "renewal tenant."\n 28. "Tenant's percentage share." The percentage of the eligible\nbuilding's aggregate floor area allocated to the eligible premises,\nwhich shall be presumed to be such percentage as set forth in the lease\nfor the eligible premises; provided that where the eligible premises\nincludes expansion premises, the "tenant's percentage share" shall be\ncalculated on the basis of the percentage of the eligible building's\naggregate floor area allocated solely to the expansion premises.\n