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New York Real Property Tax Law Section 302 - Taxable Status Date.

Legal Research Home > New York Lawyer > Real Property Tax > New York Real Property Tax Law Section 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.  Except  as  otherwise  provided  in subdivisions three and four of
  section six hundred six of this chapter, the taxable status of a special
  franchise shall be  determined  on  the  basis  of  its  value  and  its
  ownership  as  of the thirty-first day of July 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 July 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.

Last modified: August 26, 2006