[Adopted 2-1-1972 by L.L. No. 1-1972;
amended in its entirety 5-22-1995 by L.L. No. 4-1995 (Ch. 102, Art. I, of
the 1971 Code)]
The purpose of this article is to subject to taxation real property owned by nonprofit corporations or associations specified in § 270-2 of this article as authorized by § 420-b of the Real Property Tax Law.
Real property owned by any corporation or association
which is not organized or conducted exclusively for religious, charitable,
hospital, educational, or moral or mental improvement of men, women
or children, purposes, or for two or more of such purposes, and used
exclusively for carrying out thereupon one or more of such purposes
either by the owning corporation or association or by another such
corporation or association more particularly set forth in § 420-a
of the Real Property Tax Law and as defined in § 420-b of
the Real Property Tax Law, shall be taxable. Taxable property shall
include real property owned by a corporation or association which
is organized exclusively for Bible, tract, benevolent, missionary,
infirmary, public playground, scientific, literary, bar association,
medical society, library, patriotic or historical purposes, for the
development of good sportsmanship for persons under the age of 18
years through the conduct of supervised athletic games, the enforcement
of laws relating to children or animals or purposes as defined in § 420-b
of the Real Property Tax Law.
Real property which is taxable pursuant to this
article shall be subject to special ad valorem levies and special
assessments which are imposed to defray the cost and improvements
of services furnished by the Town of Fallsburg or by a special district
established therein.
