N.Y. Real Property Tax Law § 1227: Rates for apportionment purposes; full value adjustments

§ 1227. Rates for apportionment purposes; full value adjustments. 1.

If a nuclear powered electric generating facility, as defined by section

four hundred eighty-five of this chapter, is exempt from taxation for

all purposes pursuant to section four hundred eighty-five of this

chapter, the facility shall be deemed to be wholly exempt real property

for purposes of this article. If such a facility is not exempt for all

purposes, it shall be deemed to be taxable real property for purposes of

this article.

2. (a) When a nuclear powered electric generating facility is exempt

from taxation for school district purposes pursuant to section four

hundred eighty-five of this chapter, but it is not exempt for all

purposes, the commissioner shall establish a special apportionment rate

for the assessing unit containing the facility, which rate shall be used

for purposes of apportioning school district taxes to that assessing

unit pursuant to section thirteen hundred fourteen of this chapter,

subject to the provisions of paragraph (b) of this subdivision.

Provided, however, that no such rate shall be established unless it

would result in a change of two percent or more in the share of the

school district levy allocated to at least one school district segment,

or where applicable in the share of the non-homestead class levy

allocated to at least one portion.

(b) When there is another such facility located within the same

assessing unit but within a different school district, and such facility

is not exempt from taxation for purposes of that school district, the

commissioner may establish a different special apportionment rate for

purposes of apportioning the taxes of the school district to that

assessing unit.

3. When a nuclear powered electric generating facility is exempt from

taxation for county purposes pursuant to section four hundred

eighty-five of this chapter, but it is not exempt for all purposes, the

commissioner shall establish a special apportionment rate for the

assessing unit containing the facility for purposes of establishing

county equalization rates pursuant to title two of article eight of this

chapter. Provided, however, no such rate shall be established unless it

would result in a change of two percent or more in the share of the

county levy allocated to any city or town within the county, or where

applicable, in the share of the non-homestead class levy allocated to

any portion.

4. When the commissioner has established a special apportionment rate

pursuant to this section, the affected county or school district may

request a full value adjustment from the commissioner. Any such request

must be submitted no later than thirty days prior to the last date set

by law for the first tax levy involving such rate. Where such a request

is granted, the commissioner shall issue a series of full value

adjustments over a five-year period, which shall have the effect of

phasing in over that period the impact of the special apportionment rate

upon the tax levy.