N.Y. RPT Law § 478

§ 478. Tax exemption for off-street parking facilities providing\nunderground shelters. A city or a village may by local law, duly\nenacted, provide that any building, whether constructed underground or\nabove ground, which is constructed for the purpose of providing\nautomobile parking, or any existing building, not presently used for\noff-street automobile parking, which is altered, remodeled or\nreconstructed for such purpose, and which provides underground shelter\ncomplying with the provisions of the New York state defense emergency\nact and the plan, regulations and orders of the state civil defense\ncommission promulgated thereunder shall be exempt from taxation for a\nperiod of not to exceed twenty-five years after the taxable status date\nimmediately following completion of such construction, alteration,\nremodeling or reconstruction; provided, however, that no such building\nshall be exempt from taxation as herein provided unless (a) such\nbuilding has a minimum parking capacity of: in the city of New York,\ntwo hundred fifty cars; in Buffalo, Rochester, Syracuse, Utica, Albany\nand Yonkers, one hundred fifty cars; and in other cities or villages of\nthe state, seventy-five cars and (b) at least seventy-five per centum of\nthe total floor area of the building is used exclusively for providing\noff-street parking for automobiles. The exemption shall apply only to\nthat portion of the building used for such purpose including an office\nand waiting room and shall not include the land upon which or under\nwhich such building stands.\n No provision of this section shall be construed or interpreted as\naffecting the validity of any ordinance enacted prior to July first,\nnineteen hundred sixty-six, or actions taken thereunder by the\ngovernment of any county, city, town or village.\n