§ 467-g. Rebate for owners of certain real property seriously damaged\nby the severe storm that occurred on the twenty-ninth and thirtieth of\nOctober, two thousand twelve in a city having a population of one\nmillion or more. 1. Generally. Notwithstanding any provision of any\ngeneral, special or local law to the contrary, any city having a\npopulation of one million or more is hereby authorized and empowered to\nadopt and amend local laws in accordance with this section to grant a\nrebate of real property taxes for the fiscal year beginning on the first\nof July, two thousand twelve, in the amount provided in this section.\nSuch rebate shall be paid by the commissioner of finance to an owner who\nowned eligible real property as defined in subdivision three of this\nsection or a unit in such eligible real property on the thirtieth of\nOctober, two thousand twelve. If legal title to eligible real property,\nor ownership of shares of stock representing a dwelling unit, is held by\none or more trustees, the beneficial owner or owners shall be deemed to\nown the property or dwelling unit for purposes of this section.\nNotwithstanding any provision of this article to the contrary, an owner\nwhose property is receiving benefits pursuant to any other section of\nthis article shall not be prohibited from receiving a rebate pursuant to\nthis section if such owner is otherwise eligible to receive such rebate.\n 2. Definitions. As used in this section:\n a. "Annual tax" means the amount of real property tax that is imposed\non a property for the fiscal year beginning on the first of July, two\nthousand twelve, determined after reduction for any amount from which\nthe property is exempt, or which is abated, pursuant to applicable law.\n b. "Assessed valuation" means the assessed valuation of real property\nthat was used to determine the annual tax as defined in paragraph a of\nthis subdivision, and which is not reduced by any exemption from real\nproperty taxes. For real property classified as class two or class four\nreal property as defined in subdivision one of section eighteen hundred\ntwo of this chapter to which subdivision three of section eighteen\nhundred five of this chapter applies, the assessed valuation is the\nlower of the assessed valuation and transitional assessed valuation as\nprovided in subdivision three of section eighteen hundred five of this\nchapter, and which is not reduced by any exemption from real property\ntaxes.\n c. "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 d. "Cooperative development" means, with respect to properties\ndescribed in subparagraph (c) of paragraph class one of subdivision one\nof section eighteen hundred two of this chapter, all of the properties,\nincluding the land and improvements thereon, as to which the land is\nheld by a single cooperative corporation.\n e. "Department of buildings" means the department of buildings of a\ncity having a population of one million or more.\n f. "Department of finance" means the department of finance of a city\nhaving a population of one million or more.\n g. "Owner" means the owner of real property, or a tenant-stockholder\nof a unit in real property held in the cooperative form of ownership on\nthe thirtieth of October, two thousand twelve.\n 3. Eligible real property. a. For purposes of this section, "eligible\nreal property" means any tax lot that contained, on the applicable\ntaxable status date, class one, class two or class four real property as\nsuch classes of real property are defined in subdivision one of section\neighteen hundred two of this chapter, on which any building has been\ndesignated by the department of buildings in accordance with paragraph b\nof this subdivision.\n b. For purposes of this section, a building has been designated by the\ndepartment of buildings if:\n (1) during the period beginning on the first of November, two
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