N.Y. Real Property Tax Law § 438: Trustees of a hospital, playground and library; hospital for benefit of a city

§ 438. Trustees of a hospital, playground and library; hospital for

benefit of a city. 1. Real property held by trustees named in a will

or deed of trust or appointed by the supreme court of the state of New

York for hospital, public playground and library purposes, as set forth

in sections four hundred twenty-a and four hundred twenty-b of this

article, shall be exempt from taxation and exempt from special ad

valorem levies and special assessments to the extent provided in section

four hundred ninety of this article, to the same extent and subject to

the same conditions and exceptions as if owned by a corporation.

2. Real property held for hospital purposes in the name of a

corporation organized for the purpose of managing and controlling a

hospital for the use and benefit of a city shall be exempt from taxation

and exempt from special ad valorem levies and special assessments to the

extent provided in section four hundred ninety of this article, to the

same extent and subject to the same conditions and exceptions as

property of a corporation organized exclusively for hospital purposes.