N.Y. Real Property Tax Law § 302: Taxable status date

§ 302. Taxable status date. 1. The taxable status of real property in

cities and towns shall be determined annually according to its condition

and ownership as of the first day of March and the valuation thereof

determined as of the applicable valuation date. The taxable status of

real property in a city or town not subject to the provisions of this

section shall be determined as of the date provided by law applicable to

such city or town, or if not so provided, then as of the date the

assessment roll is completed and filed prior to the hearing of

complaints in connection therewith. The date of taxable status of the

real property contained on any assessment roll shall be imprinted or

otherwise indicated at the top of the first page of each volume of such

roll.

2. The taxable status date of real property assessed for school

district and village purposes shall be determined in accordance with

sections thirteen hundred two and fourteen hundred of this chapter,

respectively. The date of taxable status of the real property contained

on any village assessment roll shall be imprinted or otherwise indicated

at the top of the first page of each volume of such roll.

3. Notwithstanding any other provision of law to the contrary,

whenever any person, association or corporation not entitled to an

exemption from taxation acquires title to property which is exempt, in

whole or in part, from taxation, such property shall be immediately

subject to taxation pursuant to section five hundred twenty of this

chapter, except that, in cities with a population of one million or

more, such property shall become subject to taxation pursuant to section

four hundred ninety-four of this chapter.

4. The taxable status of a special franchise shall be determined on

the basis of its value and its ownership as of the first day of January

of the year preceding the year in which the assessment roll on which

such property is to be assessed is completed and filed in the office of

the city or town clerk, except that taxable status of such properties

shall be determined on the basis of ownership as of the first day of

January of the second year preceding the date required by law for the

filing of the final assessment roll for purposes of all village

assessment rolls.

5. Notwithstanding any other provision of law to the contrary, in a

city with a population of one million or more, whenever any corporation

or association entitled to exemption from taxation pursuant to paragraph

(a) of subdivision one of section four hundred twenty-a or paragraph (a)

of subdivision one of section four hundred twenty-b of this chapter, or

any local law adopted pursuant to such provisions, acquires title to

real property that is not exempt, in whole or in part, from taxation,

such property shall, provided that it otherwise qualifies for exemption

pursuant to such provisions, be immediately subject to exemption from

taxation in accordance with section four hundred ninety-four-a of this

chapter.