N.Y. Real Property Tax Law 440 – Infant homes
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§ 440. Infant homes. Real property owned by any infant home corporation actually dedicated and used by such corporation exclusively as a place for the free maintenance, care and recreation of children of the age of six years and under, shall be exempt from taxation, special ad valorem levies and special assessments.
Terms Used In N.Y. Real Property Tax Law 440
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.