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NYC Administrative Code

§ 11-245.5 — Alternative exemption for veterans.

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What is NYC AC § 11-245.5?

Quick Answer

This section authorizes an alternative exemption from taxation for real property owned by cooperative apartment corporations, in accordance with state law. The exemption applies to properties starting from July 1, 1998. Applies to cooperative apartment corporations seeking tax exemptions for veterans.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-245.5 Alternative exemption for veterans.

AC § 11-245.5

Pursuant to paragraph (d) of subdivision six of section four hundred fifty-eight-a of the real property tax law, the city hereby authorizes real property owned by a cooperative apartment corporation to be exempt from taxation in accordance with such section and any local laws adopted pursuant to such section beginning July first, nineteen hundred ninety-eight.

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