INSTRUCTIONS: NEW YORK APPLICATION FOR REAL PROPERTY TAX EXEMPTION FOR COMMERCIAL, BUSINESS OR INDUSTRIAL PROPERTY (Form RP-485-b)
New York business owners may apply for an exemption of property tax on their real property by filing a form RP-485-b. This document can be obtained from the website of the New York State Department Of Taxation & Finance.
New York Application For Real Property Tax Exemption For Commercial, Business Or Industrial Property RP-485-b Step 1: Question 1 asks for the name and telephone number of the business owner or owners. Question 2 asks for their mailing address.
New York Application For Real Property Tax Exemption For Commercial, Business Or Industrial Property RP-485-b Step 2: Question 2 asks for the location of the property in question.
New York Application For Real Property Tax Exemption For Commercial, Business Or Industrial Property RP-485-b Step 3: Question 4a asks whether the property in question is a new construction, or one which has been altered, improved or installed.
New York Application For Real Property Tax Exemption For Commercial, Business Or Industrial Property RP-485-b Step 4: The remaining sections of question 4 ask for a general description of the property, as well as descriptions of the type of property, the square footage, cost of construction and the dates on which the construction or alteration began and ended. You should also note any real property which was removed or replaced in the process.
New York Application For Real Property Tax Exemption For Commercial, Business Or Industrial Property RP-485-b Step 5: Question 5 requires you to describe the uses made of the property by your business. You must indicate with a check mark whether any part of this property is used for purposes other than buying, selling or developing goods or services, manufacturing or assembling goods, processing raw materials or as a hotel or motel. These are the only property categories qualifying for this exemption. If yes, indicate what percent of the business is devoted to these activities.
New York Application For Real Property Tax Exemption For Commercial, Business Or Industrial Property RP-485-b Step 6: Question 6 asks if the property in question is currently receiving or has ever received another real property tax exemption. If so, note what kind, when it began, and whether payments were made in lieu of taxes during that period. Attach a schedule recording these payments. Sign and date the form.
