Landmarks Preservation and the Property Tax : Assessing Landmark Buildings for Real Taxation Purposes.

Cover -- Half Title Page -- Title Page -- Copyright Page -- Dedication -- Contents -- List of Exhibits -- Foreword -- Acknowledgments -- INTRODUCTION AND SUMMARY OF FINDINGS -- Study Background and Focus -- Study Organization -- Study Scope and Terminology -- CHAPTER ONE: HISTORIC PRESERVATION, PROPERTY TAX, AND LANDMARK ASSESSMENT: BACKGROUND AND ISSUES -- Introduction -- Historic Preservation Comes of Age -- Federal, State, and Local Historic Preservation Mechanisms/Programs -- Federal Historic Preservation Mechanisms/Programs -- State Historic Preservation Mechanisms/Programs -- Local Historic Preservation Mechanisms/Programs -- New York City Landmark Designation -- Basis and Process -- Scope and Diversity -- Beyond Designation: Further Local Support for Landmarks -- Landmark Properties and the Property Tax -- Local Property-Tax System: An Overview -- The Relationship between Landmark Properties and the Property Tax -- Assessment of Landmark Buildings: Why the Issue? -- Assessment of Landmark Buildings: Significance of and Interest in the Issue -- Conclusion -- CHAPTER TWO: LANDMARK DESIGNATION AND PROPERTY VALUE: SUMMARY OF THE LITERATURE -- Introduction -- National Studies -- Landmark Status Associated with Increasing Property Values -- Landmark Status Associated with Decreasing Property Values -- New York City Studies -- New York City Landmark Status Associated with Enhanced Property Values -- New York City Landmark Status Associated with Decreasing Property Values -- Summary of the National and New York City Studies on Landmark Designation and Property Value -- Methodological Similarities and Issues -- The Inherent Difficulty of Determining the Impact of Designation -- Variables Influencing Presence/Strength of Landmark Prestige, Protection, and Other Supports.

Variables Influencing Presence/Strength of Land mark Facade Maintenance, Regulatory Cost, and Alteration/Demolition Restrictions -- Conclusion -- CHAPTER THREE: PROPERTY-TAX ASSESSMENT OF LANDMARK BUILDINGS: PREVAILING PRACTICE AND IMPLICATIONS -- Introduction -- Landmark-Assessment Policies at the National Level -- National Survey Findings -- Assessment of New York City Landmarks -- Assessment Implications of the Landmark-Assessment Policy -- New York City Case Studies -- Selection of the Case-Study Properties -- Case-Study Property Description -- Common and Dissimilar Case-Study Characteristics -- Analysis of the Case Studies -- Tax-Assessment Appeals -- Case-Study Lessons -- How Are New York City Properties Assessed for Real-Taxation Purposes? -- Is Landmark Designation Factored by Assessors? -- How Does Landmark Designation Affect Property Value -- How Should Landmarks Be Assessed? -- Future Landmark Assessment Issues -- APPENDIX 3-A: ASSESSMENT OF LANDMARK PROPERTIES: NEW YORK CITY CASE STUDIES -- Introduction -- 311 East 58th Street -- Background -- The Property-Assessment Appeal -- Town Hall -- Background -- The Property-Assessment Appeal -- New York County Lawyers' Association Building -- Background -- The Property-Assessment Appeal -- Hotel Chelsea -- Background -- The Property-Assessment Appeal -- Colonnade Row -- Background -- The Property-Assessment Appeal -- Metropolitan Club -- Background -- The Property-Assessment Appeal -- APPENDIX 3-B: NEW YORK CITY PROPERTY-TAX STRUCTURE AND ADMINISTRATION -- Introduction -- Significance of the Revenue -- StatutoryFranaevvork -- State Property-Tax Guidelines and Administrative Structure -- New York City Property-Tax Guidelines and Administrative Structure -- Assessnaent Tinae Schedule/Appeals Process -- New York City Property Assessment: Operative Procedures -- New York City Assessment Mechanics.

CHAPTER FOUR: POLICY AND PROCEDURAL RECOMMENDATIONS FOR ASSESSING NEW YORK CITY LANDMARK PROPERTIES -- Introduction -- Background and Proposed Assessment Strategy -- Statutory Responses by Other States -- Recommended Assessment Policy for New York City Landmark Properties -- Develop an Appropriate Landmark-Assessment Approach -- Step One: Develop an Appropriate Data Base -- Step Two: Develop Appropriate Assessment Procedures -- Applying the Cost-Valuation Approach to Landmark Properties -- Landmark-Property Land Value -- Landmark-Property lmprovement Value -- Landmark-Property Depreciation Calculation -- Applying the Income-Valuation Approach to Landmark Properties -- Landmark-Property Gross-Income Determination -- Landmark-Property Operating-Cost Determination -- Landmark-Property Capitalization Rate -- Applying the Sales Approach to Landmark Properties -- Select Appropriate "Comps" for Valuing Landmark Properties -- Adjusting the "Comps" in Valuing Landmark Properties -- The Landmark Property Sale as an Indicator of Value -- Step Three: Develop Appropriate Support Policies -- Priority of the Landmark-Valuation Recommendations -- Data Needs for Valuing Landmark Properties -- Research Needs/Opportunities for Valuing Landmark Properties -- Other Landmark-Property-Data Research Activities -- Step Four: Implement Other Assessment Changes -- Assessing Properties with Historic Easements -- Transfer of Development Rights and Property Assessment -- Conclusion -- APPENDIX ONE: LANDMARK PROPERTIES AND THE PROPERTY TAX: NATIONAL STATUTORY SURVEY AND SURVEY OF PRACTICE -- Introduction -- National Statutory Survey -- Methodology -- Presenting the Survey Findings -- Summary of Findings -- National Survey of Practice -- Objective and Methodology -- National Survey of Practice: Findings.

APPENDIX TWO: LANDMARK PROPERTIES AND THE PROPERTY TAX: ANNOTATED BIBLIOGRAPHY.

"Co-published by the Center of Urban Research of Rutgers University and the New York Landmarks Conservancy"--T.p. verso.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.