N.Y. Real Property Tax Law § 302 (2026)

§ 302. Taxable status date. 1. The taxable status of real property in
cities and towns shall be determined annually according to its condition
and ownership as of the first day of March and the valuation thereof
determined as of the applicable valuation date. The taxable status of
real property in a city or town not subject to the provisions of this
section shall be determined as of the date provided by law applicable to
such city or town, or if not so provided, then as of the date the
assessment roll is completed and filed prior to the hearing of
complaints in connection therewith. The date of taxable status of the
real property contained on any assessment roll shall be imprinted or
otherwise indicated at the top of the first page of each volume of such
roll.
  2. The taxable status date of real property assessed for school
district and village purposes shall be determined in accordance with
sections thirteen hundred two and fourteen hundred of this chapter,
respectively.  The date of taxable status of the real property contained
on any village assessment roll shall be imprinted or otherwise indicated
at the top of the first page of each volume of such roll.
  3. Notwithstanding any other provision of law to the contrary,
whenever any person, association or corporation not entitled to an
exemption from taxation acquires title to property which is exempt, in
whole or in part, from taxation, such property shall be immediately
subject to taxation pursuant to section five hundred twenty of this
chapter, except that, in cities with a population of one million or
more, such property shall become subject to taxation pursuant to section
four hundred ninety-four of this chapter.
  4. The taxable status of a special franchise shall be determined on
the basis of its value and its ownership as of the first day of January
of the year preceding the year in which the assessment roll on which
such property is to be assessed is completed and filed in the office of
the city or town clerk, except that taxable status of such properties
shall be determined on the basis of ownership as of the first day of
January of the second year preceding the date required by law for the
filing of the final assessment roll for purposes of all village
assessment rolls.
  5. Notwithstanding any other provision of law to the contrary, in a
city with a population of one million or more, whenever any corporation
or association entitled to exemption from taxation pursuant to paragraph
(a) of subdivision one of section four hundred twenty-a or paragraph (a)
of subdivision one of section four hundred twenty-b of this chapter, or
any local law adopted pursuant to such provisions, acquires title to
real property that is not exempt, in whole or in part, from taxation,
such property shall, provided that it otherwise qualifies for exemption
pursuant to such provisions, be immediately subject to exemption from
taxation in accordance with section four hundred ninety-four-a of this
chapter.