N.Y. Real Property Tax Law § 478: Tax exemption for off-street parking facilities providing underground shelters

§ 478. Tax exemption for off-street parking facilities providing

underground shelters. A city or a village may by local law, duly

enacted, provide that any building, whether constructed underground or

above ground, which is constructed for the purpose of providing

automobile parking, or any existing building, not presently used for

off-street automobile parking, which is altered, remodeled or

reconstructed for such purpose, and which provides underground shelter

complying with the provisions of the New York state defense emergency

act and the plan, regulations and orders of the state civil defense

commission promulgated thereunder shall be exempt from taxation for a

period of not to exceed twenty-five years after the taxable status date

immediately following completion of such construction, alteration,

remodeling or reconstruction; provided, however, that no such building

shall be exempt from taxation as herein provided unless (a) such

building has a minimum parking capacity of: in the city of New York,

two hundred fifty cars; in Buffalo, Rochester, Syracuse, Utica, Albany

and Yonkers, one hundred fifty cars; and in other cities or villages of

the state, seventy-five cars and (b) at least seventy-five per centum of

the total floor area of the building is used exclusively for providing

off-street parking for automobiles. The exemption shall apply only to

that portion of the building used for such purpose including an office

and waiting room and shall not include the land upon which or under

which such building stands.

No provision of this section shall be construed or interpreted as

affecting the validity of any ordinance enacted prior to July first,

nineteen hundred sixty-six, or actions taken thereunder by the

government of any county, city, town or village.