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Exemption From Real Estate Taxation For Property Owned By Nonprofit Orgranizations Application - New York
| Exemption From Real Estate Taxation For Property Owned By Nonprofit Orgranizations Application Form. This is a New York form and can be used in Department Of Finance City Of New York New York Local County . |
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NEW YORK CITY DEPARTMENT OF FINANCE TM Finance (Pursuant to Article 4, Sections 420(a), 420(b), 446 and 462 of the New York State Real Property Tax Law, which provides for real estate tax exemption for certain properties owned and used by nonprofit organizations that qualify under the provisions of these sections.) EXEMPTION FROM REAL ESTATE TAXATION FOR PROPERTY OWNED BY NONPROFIT ORGANIZATIONS INSTRUCTIONS GENERAL INFORMATION PROPERTY TAX EXEMPTION UNIT CHECKLIST BEFORE SUBMITTING YOUR APPLICATION A DELAY IN THE PROCESSING OF YOUR APPLICATION. CHECK () TO MAKE SURE THAT YOU DO THE FOLLOWING THINGS BEFORE SUBMITTING YOUR APPLICATION: K I the organization has a resolution(s) authorizing contemplated K Sign the application and have it notarized where indicated ELIGIBILITY REQUIREMENTS THE FOLLOWING IS INTENDED TO SERVE ONLY AS A GUIDE IN DETERMINING ELIGIBILITY FOR AN EXEMPTION. ALL SUBMITTED APPLICATIONS ARE SUBJECT TO REVIEW IN ACCORDANCE WITH THE LEGAL STATUTORY AUTHORITIES CITED UNDER THE HEADING OF THIS PAGE. N N AVOID construction of buildings or other improvements, attach copy K Read the eligibility requirements below to be sure that you are qualified THE ATTACHED FOUR PAGE APPLICATION K COMPLETE ALL SIX SECTIONS AND INDIVIDUAL QUESTIONS ON K Submit a separate Section 6 - Property Use for each individual lot for K Attach a copy of the most recent deed which you are applying for exemption (Use individual sheets provided by the Department of Finance or photocopies of Section 6.) K Attach a copy of your organization's Articles of Incorporation K Attach a copy of your organization's By-Laws or Constitution Revenue Service, attach a copy along with all schedules Determination or Ruling Letter Legal title for the parcel(s) for which exemption benefits are being sought must be in the name of the applicant organization. K If the organization is required to file annual returns with the Internal K If the organization is exempt from federal income tax, attach a copy of K If the organization is not exempt from federal income tax, but has applied for exemption, attach a copy of application, request or statement and attachments organization, the above six items must also be attached for the lessee (Articles of Incorporation, By-Laws or Constitution, IRS Returns, IRS Form 990-T, IRS exemption letter or IRS exemption application); additionally a copy of the current lease must be attached must submit a separate statement in addition to this application, which should include the following information: names of all officiating clergy; documentation of ordination; if no formal training and/or ordination was received, please explain why; if clergy has an employment contract with the owning organization, please submit most recent copy The purpose(s) of the organization must be one of the exemptible categories outlined in Sections 420(a), 420(b), 446 and 462 of the New York State Real Property Tax Law, or two or more of those purposes, as follows: 420(a): Charitable, Educational, Hospital, Moral or mental improvement of men, women or children or Religious 420(b): Benevolent, Bible, Enforcement of Law relating to children or animals, Historical, Infirmary, Library, Literary, Medical Society, Missionary, Patriotic, Public playground, Scientific, Supervised youth sportsmanship or Tract 446: 462: Cemetery Parsonage or Manse K If all or a portion of the property is leased to and used by another nonprofit K If all or a portion of the property is used as a parsonage or manse, you N The property for which exemption is being sought must be used for the exemptible purposes of the organization. Unused portions or portions leased to private entities are not exemptible. N K If there has been any substantial change in any aspect of the organization's financial activities since the period end as reported in Section - 5 Organization Statement of Assets and Liabilities for the Last Fiscal Year, attach a detailed explanation Unimproved land and/or vacant buildings may be eligible if supporting documentation of contemplated use or construction in progress is supplied. If an exemption is granted, then a new "Application for Exemption" must be filed once the improvement value is placed on the assessment roll. If all or a portion of the property is leased to or otherwise used by another eligible exempt organization, that portion may be eligible for exemption, if it is used for exempt purposes and the amount of rental income does not exceed the normal carrying, maintenance or depreciation charges. Rev. 04.19.12 N American LegalNet, Inc. www.FormsWorkFlow.com Real Estate Tax Exemption Application for Nonprofit Organizations N For applicants applying for exemption under Real Property Tax Law sections 446 (Cemetery) or 462 (Parsonage or Manse) only: Properties must be acquired by the applicant organization on or before the annual taxable status date of January 5. If the property was acquired before January 5 and all other exempt criteria are met, the exemption will commence with the following July 1 tax roll. If the property was acquired after January 5 and all other exemption criteria are met, the exemption will commence on the July 1 following the next January 5. Page 2 NOT FOR PROFIT HOUSING ORGANIZATIONS Under limited circumstances, some not-for-profit housing organizations may be eligible for exemption benefits under Article 4, Section 420(a) or 420(c) of the New York State Real Property Tax Law. In such cases, eligibility is determined by the Department of Housing Preservation and Development (HPD). For further information, please write to HPD, c/o Office of Tax Incentives, 100 Gold Street, New York, NY 10038 WHEN AND WHERE TO FILE Applications are accepted throughout the year. New York City Department of Finance Property Tax Exemption Unit - NFP 59 Maiden Lane, 20th Floor New York, NY 10038 N Properties transferred from a currently property tax exempt nonprofit organization to another qualifying nonprofit organization will maintain continuous benefits. The January 5 taxable status date rule will not affect such a transfer. The new organization should make application in its own name immediately after the transfer. If the submitted application is incomplete in any way, the applicant will be notified and given a short period of time to make any and all corrections. Completed applications with appropriate attachments must be submitted to: N N In addition to this application, you may be required to supply additional
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