[Adopted 1-10-1978 by L.L. No. 1-1978]
[1]
Editor's Note: Article 4-A of the Commerce Law, which
established the New York State Job Incentive Board, was repealed by
L. 1983, c. 15, effective April 1, 1983. However, § 133
of that law provided that the provisions of Article 4-A and the provisions
of the regulations adopted thereunder in respect to definition, requirements
for eligibility and certificates of eligibility should continue in
effect for those taxpayers or owners or operators who, prior to July
1, 1983, had received from the Job Incentive Board initial approval
of an application for such certificate as evidenced by the minutes
of the meeting of the Board at which such application was approved,
or a letter of intent authorized by § 102-4 of Part 102
of Title 5 of the NYCRR for those taxpayers or owners or operators
who, prior to April 1, 1983, had received from the Job Incentive Board
a certificate of eligibility for tax credits or for a real property
tax exemption.
A total exemption from taxation for 10 successive years for
each facility located in the Town is hereby granted to "eligible business
facilities" as defined in § 115 of the Commerce Law of the
State of New York from taxes imposed by or on behalf of the Town of
Oneonta for Town purposes.
An "eligible business facility" as defined by the New York State
Job Incentive Board pursuant to §§ 115 and 120 of the
Commerce Law of the State of New York shall be exempt from taxes imposed
by the Town for Town purposes for any increase in the value thereof
which is attributable to expenditures certified by the Job Incentive
Board to have been paid or incurred by the owner or operator for capital
improvements commenced on or after the effective date of this article,
consisting of the construction, reconstruction, erection or improvement
of depreciable real property included in such facility, and such exemption
shall be continued from year to year during the specified period only
if the certificate of eligibility with respect to such business facility
is not revoked or modified and is renewed or extended as provided
by § 120 of the Commerce Law.
Such exemption shall be granted only upon an application by
the owner or operator of such facility on a form prescribed by the
New York State Job Incentive Board, to which there shall be attached
a copy of the certificate of eligibility issued by the New York State
Job Incentive Board. Such application shall be filed with the appropriate
assessing authorities on or before the appropriate taxable-status
dates. Copies of such application shall be filed simultaneously with
the New York State Job Incentive Board and the State Board of Equalization
and Assessment.
The Assessors shall consider the application for such exemption
and, if the same is in order, shall determine the assessed value of
such exemption in accordance with the above-mentioned certificate
of eligibility, issued pursuant to § 120 of the Commerce
Law of the State of New York, and enter such value on the exempt portion
of the assessment roll. The eligible business facility shall then
be exempt to the extent provided by this article from taxes commencing
with the assessment roll prepared on the next-following taxable-status
date.
If an exemption has once been granted for a business facility
under this article and the Assessors receive notice that a certificate
of eligibility for such facility has been revoked or modified, they
shall redetermine the assessed value of any such exemption in accordance
with such revocation or modification. If upon such redetermination
it appears for a year for which an exemption has been granted that
such facility has been ineligible or that the assessed value of such
exemption as redetermined is less than the assessed value of such
exemption as shown on the assessment rolls for such year, then a tax
shall be levied at the rate of tax for such year upon so much of the
assessed valuation of such exemption, as shown on such assessment
rolls, as may be ineligible or excessive. Such tax shall be levied
as an omitted assessment in the manner provided in § 550
of the Real Property Tax Law for each such year. Any such redetermination
shall be made no later than three years after the application for
exemption last received benefit of any exemption under § 485
of the Real Property Tax Law.
