N.Y. Real Property Tax Law § 496: Voluntary renunciation of an exemption

§ 496. Voluntary renunciation of an exemption. 1. A property owner who

wishes to give up his or her claim to an exemption on one or more

preceding assessment rolls may renounce the exemption in the manner

provided by this section.

2. An application to renounce an exemption shall be made on a form

prescribed by the commissioner and shall be filed with the county

director of real property tax services no later than ten years after the

levy of taxes upon the assessment roll on which the renounced exemption

appears. The county director, after consulting with the assessor as

appropriate, shall compute the total amount owed on account of the

renounced exemption as follows:

(a) For each assessment roll on which the renounced exemption appears,

the assessed value that was exempted shall be multiplied by the tax rate

or rates that were applied to that assessment roll, or in the case of a

renounced STAR exemption, the tax savings calculated pursuant to

subdivision two of section thirteen hundred six-a of this chapter.

Interest shall then be added to each such product at the rate prescribed

by section nine hundred twenty-four-a of this chapter or such other law

as may be applicable for each month or portion thereon since the levy of

taxes upon such assessment roll.

(b) The sum of the calculations made pursuant to paragraph (a) of this

subdivision with respect to all of the assessment rolls in question

shall be determined.

(c) A processing fee of five hundred dollars shall be added to the sum

determined pursuant to paragraph (b) of this subdivision, unless the

provisions of paragraph (d) of this subdivision are applicable.

(d) If the applicant is renouncing a STAR exemption in order to

qualify for the personal income tax credit authorized by subsection

(eee) of section six hundred six of the tax law, and no other exemptions

are being renounced on the same application, or if the applicant is

renouncing a STAR exemption before school taxes have been levied on the

assessment roll upon which that exemption appears, no processing fee

shall be applicable.

3. After computing the total amount due on account of the renounced

exemption, the county director shall return the form to the applicant

with the total amount due noted thereon. A copy of such form shall be

provided to the assessor, and in the case of the STAR exemption, to the

commissioner. Within fifteen days after the mailing of such form, the

applicant shall pay the total amount due as shown thereon to the county

treasurer, who shall issue a receipt for such payment. After deducting

the processing fee, the county treasurer shall distribute the amount

collected among the affected municipal corporations according to the

taxes and interest owing to each, provided that in the case of the STAR

exemption authorized by section four hundred twenty-five of this

article, the amount collected, including interest, shall be paid to the

state in the manner directed by the commissioner.

4. Notwithstanding the foregoing provisions of this section, in a city

with a population of one million or more, an exemption may be renounced

on a form prescribed by the commissioner of finance, and the duties

imposed by this section upon the county treasurer shall be performed by

the commissioner of finance.