(b) The total amount of such tax abatement commencing on or after July
first, two thousand fourteen and ending on or before June thirtieth, two
thousand twenty-four, shall be five dollars and twenty-three cents per
square foot of a green roof pursuant to an approved application for tax
abatement; provided, however, that the amount of such tax abatement
shall not exceed two hundred thousand dollars. To the extent the amount
of such tax abatement exceeds the total tax liability in any tax year,
any remaining amount may be applied to the tax liability in succeeding
tax years, provided that such abatement must be applied within five
years of the tax year in which the tax abatement was initially taken.
(c) Notwithstanding paragraph (b) of this subdivision, property
located within specifically designated New York city community
districts, selected by an agency designated by the mayor of the city of
New York pursuant to subdivision five of this section, shall receive an
enhanced tax abatement for any green roof with a growth medium with a
depth of at least four inches. The total amount of such enhanced tax
abatement commencing on or after July first, two thousand nineteen and
ending on or before June thirtieth, two thousand twenty-four, shall be
fifteen dollars per square foot of a green roof pursuant to an approved
application for enhanced tax abatement: provided, however, that the
amount of such enhanced tax abatement shall not exceed two hundred
thousand dollars. To the extent the amount of such enhanced tax
abatement exceeds the total tax liability in any tax year, any remaining
amount may be applied to the tax liability in succeeding tax years,
provided that such abatement must be applied within five years of the
tax year in which the tax abatement was initially taken.
(d) Notwithstanding paragraph (b) or (c) of this subdivision, the
aggregate amount of tax abatements allowed under this subdivision for
the tax year commencing July first, two thousand fourteen and ending
June thirtieth two thousand fifteen shall be a maximum of seven hundred
fifty thousand dollars, and the aggregate amount of tax abatements
allowed under this subdivision for any tax year commencing on or after
July first, two thousand fifteen and ending on or before June thirtieth,
two thousand twenty-four shall be a maximum of one million dollars. No
tax abatements shall be allowed under this subdivision for any tax year
commencing on or after July first, two thousand twenty-four.
(e) Such aggregate amount of tax abatements including enhanced tax
abatements, shall be allocated by the department of finance on a pro
rata basis among applicants whose applications have been approved by a
designated agency. If such allocation is not made prior to the date that
the real property tax bill, statement of account or other similar bill
or statement is prepared, then the department of finance shall, as
necessary, after such allocation is made, submit an amended real
property tax bill, statement of account or other similar bill or
statement to any applicant whose abatement must be adjusted to reflect
such allocation. Nothing in this paragraph shall be deemed to affect the
obligation of any taxpayer under applicable law with respect to the
payment of any installment of real property tax for the fiscal year as
to which such allocation is made, which was due and payable prior to the
date such amended real property tax bills are sent, and the department
of finance shall be authorized to determine the date on which amended
bills are to be sent and the installments of real property tax which are
to be reflected therein.
2. Such tax abatement shall commence on July first following the
approval of an application for tax abatement by a designated agency.
3. With respect to any eligible building held in the condominium form
of ownership that receive a tax abatement pursuant to this title, such
tax abatement benefits shall be apportioned among all of the condominium
tax lots within such eligible building.
4. If, as a result of application to the tax commission or a court
order or action by the department of finance, the billable assessed
value for the fiscal year in which the tax abatement is taken is reduced
after the assessment roll becomes final, the department of finance shall
recalculate the abatement so that the abatement granted shall not exceed
the annual tax liability as so reduced. The amount equal to the
difference between the abatement originally granted and the abatement as
so recalculated shall be deducted from any refund otherwise payable or
remission otherwise due as a result of such reduction in billable
assessed value.
5. Buildings located within specifically designated New York city
community districts, as identified by an agency designated by the mayor
of the city of New York, shall be eligible for the enhanced tax
abatement described in paragraph (c) of subdivision one of this section.
No building located outside of a designated area shall be eligible to
receive an enhanced abatement. An agency designated by the mayor of the
city of New York shall select community districts on a rolling basis
over a period of three years. In selecting community districts, such
agency shall prioritize areas in the priority combined sewage overflow
tributary areas identified by the city of New York, with particular
emphasis on those portions of such city that have been identified by an
agency designated by the mayor of such city as lacking green space.
Structure New York Laws