§ 467-a. Partial tax abatement for residential real property held in\nthe cooperative or condominium form of ownership in a city having a\npopulation of one million or more. 1. Definitions. As used in this\nsection:\n (a) "Applicant" means the board of managers of a condominium or the\nboard of directors of a cooperative apartment corporation, provided\nthat, in addition, the commissioner of finance shall by rule designate\nthe owner of a dwelling unit (the "unit owner") or shareholder of the\ncorporation having the proprietary lease for an apartment (a\n"shareholder") as an applicant for the limited purpose of submitting\ninformation to verify the primary residence of the unit owner or\nshareholder.\n (b) "Average unit assessed value" means the residential proportion of\na property multiplied by the total assessed value of the property\ndivided by the number of dwelling units therein on the applicable\ntaxable status date for the fiscal year for which an application is made\nfor partial abatement of real property taxes pursuant to this section.\n (c) "Billable assessed value" means the lesser of the taxable\ntransitional assessed value, as computed pursuant to subdivision three\nof section eighteen hundred five of this chapter, or taxable assessed\nvalue of a property.\n (d) "Commissioner of finance" means the commissioner of finance of a\ncity having a population of one million or more, or his or her designee.\n (e) "Dwelling unit" means a unit used primarily for residential\npurposes and not primarily for professional or commercial purposes.\n (f) "Property" means real property designated as class two, pursuant\nto section eighteen hundred two of this chapter, held in the cooperative\nor condominium form of ownership.\n (g) "Residential proportion" of a property held in the cooperative\nform of ownership means the percentage of shares of the cooperative\napartment corporation allocated to dwelling units. "Residential\nproportion" of a property held in the condominium form of ownership\nmeans the percentage of common interest allocated to dwelling units.\n (h) "Sponsors" means persons or business entities who make or take\npart in a public offering or sale of securities consisting primarily of\nshares or investments in real estate, including condominium units and\nother cooperative interests in realty. Sponsors shall be deemed to\ninclude successors who succeed to the rights and assume the obligations\nof sponsors.\n (i) "Prevailing wage" means the rate of wages and supplemental\nbenefits paid in the locality to workers in the same trade or occupation\nand annually determined by the fiscal officer in accordance with the\nprovisions of section two hundred thirty-four of the labor law.\n (j) "Qualified property" means (i) a property with an average unit\nassessed value of less than or equal to sixty thousand dollars; or (ii)\na property with an average unit assessed value of more than sixty\nthousand dollars and less than or equal to one hundred thousand dollars,\nand less than thirty dwelling units; or (iii) a property with respect to\nwhich an applicant has submitted an affidavit certifying that all\nbuilding service employees employed or to be employed at the property\nshall receive the applicable prevailing wage for the duration of such\nproperty's tax abatement.\n (k) "Building service employee" means any person who is regularly\nemployed at a building who performs work in connection with the care or\nmaintenance of such building. "Building service employee" includes, but\nis not limited to, watchman, guard, doorman, building cleaner, porter,\nhandyman, janitor, gardener, groundskeeper, elevator operator and\nstarter, and window cleaner, but shall not include persons regularly\nscheduled to work fewer than eight hours per week in the building.\n (l) "Fiscal officer" means the comptroller of the city of New York.\n 2. (a) In a city having a population of one million or more, dwelling\nunits owned by unit owner
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