§ 420-a. Nonprofit organizations; mandatory class. 1. (a) Real\nproperty owned by a corporation or association organized or conducted\nexclusively for religious, charitable, hospital, educational, or moral\nor mental improvement of men, women or children purposes, or for two or\nmore such purposes, and used exclusively for carrying out thereupon one\nor more of such purposes either by the owning corporation or association\nor by another such corporation or association as hereinafter provided\nshall be exempt from taxation as provided in this section.\n (b) Real property such as specified in paragraph (a) of this\nsubdivision shall not be exempt if any officer, member or employee of\nthe owning corporation or association shall receive or may be lawfully\nentitled to receive any pecuniary profit from the operations thereof,\nexcept reasonable compensation for services in effecting one or more of\nsuch purposes, or as proper beneficiaries of its strictly charitable\npurposes; or if the organization thereof for any such avowed purposes be\na guise or pretense for directly or indirectly making any other\npecuniary profit for such corporation or association or for any of its\nmembers or employees; or if it be not in good faith organized or\nconducted exclusively for one or more of such purposes.\n 2. If any portion of such real property is not so used exclusively to\ncarry out thereupon one or more of such purposes but is leased or\notherwise used for other purposes, such portion shall be subject to\ntaxation and the remaining portion only shall be exempt; provided,\nhowever, that such real property shall be fully exempt from taxation\nalthough it or a portion thereof is used (a) for purposes which are\nexempt pursuant to this section or sections four hundred twenty-b, four\nhundred twenty-two, four hundred twenty-four, four hundred twenty-six,\nfour hundred twenty-eight, four hundred thirty or four hundred fifty of\nthis chapter by another corporation which owns real property exempt from\ntaxation pursuant to such sections or whose real property if it owned\nany would be exempt from taxation pursuant to such sections, (b) for\npurposes which are exempt pursuant to section four hundred six or\nsection four hundred eight of this chapter by a corporation which owns\nreal property exempt from taxation pursuant to such section or if it\nowned any would be exempt from taxation pursuant to such section, (c)\nfor purposes which are exempt pursuant to section four hundred sixteen\nof this chapter by an organization which owns real property exempt from\ntaxation pursuant to such section or whose real property if it owned any\nwould be exempt from taxation pursuant to such section, (d) for purposes\nrelating to civil defense pursuant to the New York state defense\nemergency act, including but not limited to activities in preparation\nfor anticipated attack, during attack, or following attack or false\nwarning thereof, or in connection with drill or test ordered or directed\nby civil defense authorities, or (e) for purposes of a tax-free NY area\nthat has been approved pursuant to article twenty-one of the economic\ndevelopment law, subject to the conditions that the real property must\nhave been owned by the corporation or association organized exclusively\nfor educational purposes and exempt pursuant to this section on June\nfirst, two thousand thirteen, and that the exemption shall apply only to\nthe portion of such real property that is used for purposes of the\nSTART-UP NY program; and provided further that such real property shall\nbe exempt from taxation only so long as it or a portion thereof, as the\ncase may be, is devoted to such exempt purposes and so long as any\nmoneys paid for such use do not exceed the amount of the carrying,\nmaintenance and depreciation charges of the property or portion thereof,\nas the case may be.\n 3. Such real property from which no revenue is derived shall be exempt\nthough not in actual use therefor
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.