Posts Tagged: Tax Exemption

August 16, 2016

Revocation of Real Estate Tax Exemption for the Tax Exempt

Recently, the revocation of exemption from real property tax for certain non-profit organizations has become a topic of much debate in courtrooms and legislatures alike. New York is moving towards a more restrictive application of the real property tax exemption statutes. New York has two statutes that govern the exemption of real property from taxation—New York Real Property Tax Law § 420-a (mandatory exemption) and New York Real Property Tax Law § 420-b (permissive exemption).  In 2015, the Court of Appeals comprehensively examined section 420-a in Greater Jamaica Dev. Corp. v. New York City Tax… Read more »