New York Laws
Title 2 - Private Property
485-G - Infrastructure Exemption.

§ 485-g. Infrastructure exemption. 1. A county, city, town or village
may by local law or a school district may by resolution provide that the
exemption under this section shall be applicable within its
jurisdiction. A copy of such local law or resolution shall be filed with
the office of real property services.

2. Residential building lots which are part of a subdivision plat for
residential development which includes infrastructure intended to be
dedicated to the municipal corporation or a special district thereof in
accordance with the provisions of this section shall be exempt from
taxation to the extent of the increased assessed value of such lots
resulting from the addition of such infrastructure for a period until
the issuance of a certificate of occupancy but in no event longer than
three years from granting of the exemption herein, which certifies that
a residence is constructed on a building lot in such subdivision. Such
exemption shall be the value of the infrastructure proportionately
applied to each of the lots in the subdivision. Upon issuance of the
certificate of occupancy but in no event longer than three years from
granting of the exemption herein, the exemption provided by this
subdivision shall lapse.

3. For purposes of this section infrastructure shall be comprised of
the following public facilities which are intended to be dedicated to
the municipal corporation or a special district thereof: streets, storm
and sanitary sewers, drainage facilities and any other facilities
required by the municipality to be installed in such residential
subdivision as noted on the filed plat plan for such residential
subdivision.

4. Such exemption shall be granted only upon application by the owner
of the real property on a form prescribed and made available by the
office of real property services. The applicant shall file the
information as required by the office of real property services. The
application shall be filed with the assessor of the appropriate
assessing unit. Such application shall be filed on or before the
appropriate taxable status date of such assessing unit and not later
than one year from the date of completion of such construction,
installation or improvement. On approved subdivision lots in which such
infrastructure has been completed as of the effective date of the local
law or school district resolution providing that the exemption under
this section shall be applicable within its jurisdiction and for which a
certificate of occupancy has not been issued, application shall be made
within one year from the effective date of such local law or school
district resolution.

5. If the assessor receives an application by the owner of the real
property, and is satisfied that the applicant is entitled to an
exemption pursuant to this section, the assessor shall approve the
application and such real property shall thereafter be exempt from
taxation as herein provided commencing with the assessment roll prepared
after the taxable status date referred to in subdivision four of this
section. The assessed value of any exemption granted pursuant to this
section shall be entered by the assessor on the assessment roll with the
taxable property, with the amount of the exemption entered in a separate
column.

6. The provisions of this section shall not apply to a city with a
population of one million or more.

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