The Court of Appeals reinstated a revocation of Greater Jamaica Development’s Corporation property tax exemption. Image credit: GJDC
Court of Appeals reversed decision of Appellate Division recognizing a tax exemption. In 2011, the Department of Finance revoked a property tax exemption granted for five public parking facilities owned by the nonprofit Greater Jamaica Development Corporation and its LLC, Jamaica First Parking. The exemption, granted in 2007 pursuant to RPTL §420-a in recognition of Greater Jamaica’s mission to spur development and growth in the downtown Jamaica area, was revoked on the grounds that operating parking facilities were not inherently a charitable activity under §420-a.
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Lincoln Center, with properties valued at $1.1 billion, is exempt from property tax as a cultural institution. Image credit: Matthew Bisanz
A long-standing feature of American tax policy is the exemption granted to nonprofit organizations, the largest of which is the exemption from local property taxes. The exemption, with origins back to the 18th century, is widespread. Among the 50 states, 17 state constitutions mandate property tax exemptions for charitable organizations, 25 authorize the legislature to give exemptions, and eight do not address the issue. New York State establishes two classes of exemptions for nonprofits: mandatory property tax exemptions apply to religious, educational, hospital, mental health and certain other charitable institutions; permissive exemptions are given to most other nonprofits, but localities may remove them. New York City has not passed any limiting local legislation.
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THE NEW YORK CITY TAX COMMISSION, THE CENTER FOR NEW YORK CITY LAW,
& THE CENTER FOR REAL ESTATE STUDIES
present
WHEN
Thursday, January 29, 2014, from 2:00 p.m. to 5:00 p.m.
***
WHERE
New York Law School
185 West Broadway (between Worth and Leonard Streets)
*** (more…)
THE NEW YORK CITY TAX COMMISSION, THE CENTER FOR NEW YORK CITY LAW,
& THE CENTER FOR REAL ESTATE STUDIES
presents
WHEN
Thursday, January 23, 2014, from 2:00 p.m. to 5:00 p.m.
***
WHERE
New York Law School
185 West Broadway (between Worth and Leonard Streets)
*** (more…)
Greater Jamaica Development Corporation logo. Image Credit: GJDC.
Parking Lots associated with Greater Jamaica Development corporation challenged Finance’s withdrawal of tax exemption. Greater Jamaica Development Corporation and Jamaica First Parking, LLC, brought an article 78 petition against the Department of Finance and the New York City Tax Commission, challenging the City’s revocation of a charitable tax exemption for the public parking facilities they owned and operated. On appeal to the Appellate Division, Second Department, the court restored the tax exemption. (more…)
