ยง 429. Real property used for professional major league sports. Real
property within a city having a population of one million or more, used
by both a professional major league hockey team which is a member of the
National Hockey League and a professional major league basketball team
which is a member of the National Basketball Association to play their
home games shall be exempt from taxation to the extent said taxes are
the obligation by lease or otherwise of the owners of franchises for
such teams, provided that such owners enter into a written agreement
with the chief executive officer of the municipality in which such
property is located to play their home games within such municipality
for a period of at least ten consecutive years. The tax exemption
provided herein shall be granted to real property being used, in whole
or in part, for the aforesaid purposes on the date such agreement is
executed and shall apply to taxes which become due and payable after the
aforestated agreement is executed and shall continue with respect to
such property as long as both of said teams play their home games
therein and no longer. Such exemption shall not apply with respect to
any improvement to such property made after the date such agreement is
executed which improvement is not used for the provision of facilities
or services related to sports, entertainment, expositions, conventions
or trade shows. If one or both of said teams shall cease to play their
home games in said property at any time, the tax exemption provided
herein shall cease immediately and such property shall immediately be
restored to the tax rolls and thereupon become subject to taxation and
shall be taxed pro rata for the unexpired portion of the taxable year.
Structure New York Laws
420-A - Nonprofit Organizations; Mandatory Class.
420-B - Nonprofit Organizations; Permissive Class.
421-A - Affordable New York Housing Program.
421-C - Exemption of Certain New Multiple Dwellings From Local Taxation.
421-E - Exemption of Cooperative, Condominium, Homesteading and Rental Projects From Local Taxation.
421-F - Exemption of Capital Improvements to Residential Buildings and Certain New Construction.
421-G - Exemption From Local Taxation of Certain Multiple Dwellings.
421-H - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
421-H*2 - Exemption of Capital Improvements to Residential Buildings.
421-I - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
421-I*2 - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
421-J - Exemption of Capital Investment in Multiple Dwelling Buildings Within Certain Cities.
421-J*2 - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
421-K - Exemption of Certain Multiple Dwellings.
421-L - Exemption of Capital Improvements to Residential Buildings in Certain Towns.
421-N - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
421-O - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
421-O*2 - Exemption of Capital Improvements to Multiple Dwelling Buildings Within Certain Cities.
422 - Not-for-Profit Housing Companies.
424 - Institute of Arts and Sciences.
425 - School Tax Relief (Star) Exemption.
425-A - Abatement of County Taxes in Special Assessing Units.
427 - Performing Arts Buildings.
428 - Fraternal Organizations; Entire Net Income for Education and Relief of Members.
429 - Real Property Used for Professional Major League Sports.
430 - Interdenominational Centers.
432 - Theatrical Corporations Created by Act of Congress.
436 - Officers of Religious Denominations.
438 - Trustees of a Hospital, Playground and Library; Hospital for Benefit of a City.
442 - Soldiers Monument Corporations.
457 - Exemption for First-Time Homebuyers of Newly Constructed Homes.
458-A - Veterans; Alternative Exemption.
458-B - Exemption for Cold War Veterans.
459 - Persons Who Are Physically Disabled.
459-A - Improvements to Property Made Pursuant to the Americans With Disabilities Act of 1990.
459-B - Physically Disabled Crime Victims.
459-C - Persons With Disabilities and Limited Incomes.
462 - Religious Corporations; Property Used for Residential Purposes.
464 - Incorporated Associations of Volunteer Firefighters.
466 - Volunteer Firefighters and Fire Companies in Villages.
466-A - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Counties.
466-A*2 - Volunteer Firefighters and Volunteer Ambulance Workers.
466-B - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Additional Counties.
466-C - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-C*2 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Counties.
466-C*3 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-C*4 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-C*5 - Volunteer Firefighters and Volunteer Ambulance Workers; Exemption.
466-C*6 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Counties.
466-C*7 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-D - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-D*2 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-D*3 - Volunteer Firefighters and Volunteer Ambulance Workers.
466-D*4 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Counties.
466-E - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-E*2 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-E*3 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-E*4 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-F - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-F*2 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-F*3 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Counties.
466-F*4 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-G - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-G*2 - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-H - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-H*2 - Un-Remarried Spouses of Deceased Volunteer Firefighters or Volunteer Ambulance Workers.
466-I - Volunteer Firefighters and Volunteer Ambulance Workers; Certain Counties.
466-J - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
466-K - Volunteer Firefighters and Volunteer Ambulance Workers; Certain County.
467 - Persons Sixty-Five Years of Age or Over.
467-F - Protective and Safety Devices Tax Abatement.
467-I - Real Property Tax Abatement.
467-J - Exemption for Certain Residential Properties Located in Certain Counties.
467-K - Senior Citizen Longtime Resident Exemption.
467-L - Rebate for Owners of Certain Real Property in the City of New York.
468 - Fire Patrol and Salvage Corps.
469 - Assessment Exemption for Living Quarters for Parent or Grandparent.
472 - Pharmaceutical Societies.
476-A - Railroad Passenger Stations.
477 - Tax Exemption for Industrial Waste Treatment Facilities.
477-A - Tax Exemption for Air Pollution Control Facilities.
478 - Tax Exemption for Off-Street Parking Facilities Providing Underground Shelters.
479 - Fallout Shelter Facilities.
480 - Forest and Reforested Lands.
480-A - Taxation of Forest Land.
481 - Taxation of Land Used for Agricultural Production.
483-C - Temporary Greenhouses.
483-D - Farm or Food Processing Labor Camps or Commissaries.
483-E - Anaerobic Digestion Facilities.
484 - Urban Redevelopment Corporations and Companies.
485 - Nuclear Powered Electric Generating Facilities.
485-A - Residential-Commerical Urban Exemption Program.
485-B - Business Investment Exemption.
485-D - Water-Works Corporations.
485-E - Empire Zone Exemption.
485-F - Banking Development Districts.
485-G - Infrastructure Exemption.
485-H - Residential Investment Exemption; Certain Cities.
485-I - Residential Investment Exemption; Certain School Districts.
485-I*2 - Residential Investment Exemption; Certain Cities.
485-J - Residential Property Improvement Exemption; Certain Cities.
485-J*2 - Residential Investment Exemption; Certain Cities.
485-J*3 - Residential Investment Exemption; Certain Cities and School Districts.
485-J*4 - Residential Investment Exemption; Certain Cities.
485-J*5 - Residential Investment Exemption; Certain Cities.
485-K - Residential Investment Exemption; Certain School Districts.
485-L - Residential Property Improvement; Certain Towns.
485-L*2 - Residential Investment Exemption; Certain School Districts.
485-M - Residential Investment Exemption; Certain School Districts.
485-N - Residential-Commercial Exemption Program.
485-O - New Residential Property Exemption; Certain Cities.
485-P - Economic Transformation Area Exemption.
485-Q - Residential Investment Exemption; Certain Cities.
485-R - Residential Redevelopment Inhibited Property Exemption; Certain Cities.
485-S - Residential Reassessment Exemption.
485-S*2 - Residential Reassessment Exemption.
485-S*3 - Mixed Use Exemption Program for Villages.
485-T - Owner Occupied Residential Property Exemption Program.
485-U - Class One Reassessment Exemption.
485-V - Residential Revaluation Exemption.
485-V*2 - Residential and Mixed-Use Investment Exemption; Certain Cities and School Districts.
485-W - Newly Constructed Single-Family and Multi-Family Residential Exemption; Certain Villages.
486 - Non-Profit Medical and Dental Indemnity, or Hospital Service Corporations.
486-A - Non-Profit Corporations Operating as Health Maintenance Organizations.
487 - Exemption From Taxation for Certain Energy Systems.
487-A - Exemption From Taxation of Conservation Improvements to Certain Residential Premises.