[Adopted 1-20-1999 by L.L. No. 1-1999]
This article shall be known as the "Real Property Tax Exemption
for Altered or Rehabilitated Historic Property of the Town of Penfield."
It is the purpose and intent of this article to implement legislation
which amended the Real Property Tax Law by adding a new § 444-a.
The new section allows a real property tax exemption for historic
property altered or rehabilitated subsequent to the effective date
of this article, provided that the real property meets the criteria
set forth in this article.
The Town Board of the Town of Penfield recognizes that there
are historic landmarks or properties that contribute to the character
of an historic district in the Town of Penfield. Many of these properties
need to be rehabilitated, renovated or altered in order to continue
to be useful properties.
Real property must meet the following criteria in order to be
eligible for this exemption:
A.
The property must be designated as a landmark or is a property that
contributes to the character of an historic district, created by a
local law passed pursuant to General Municipal Law § 96-A
or 119-DD.
B.
Alterations or rehabilitation must be made for means of historic
preservation.
C.
Such alterations or rehabilitation of historic property must meet
guidelines and review standards in the local preservation law.
D.
Such alterations or rehabilitation of historic property must be approved
by the local preservation board prior to commencement of work.
E.
Alterations or rehabilitation must be commenced subsequent to the
effective date of this article.
Historic property shall be exempt from taxation to the extent
of any increase in assessed value attributable to such alteration
or rehabilitation pursuant to the following schedule:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
100%
|
|
2
|
100%
|
|
3
|
100%
|
|
4
|
100%
|
|
5
|
100%
|
|
6
|
80%
|
|
7
|
60%
|
|
8
|
40%
|
|
9
|
20%
|
|
10
|
0%
|
[Amended 12-16-2015 by L.L. No. 3-2015]
The Assessor of the Town of Penfield is hereby directed to accept
applications, on a form prescribed by the State Board of Real Property
Services, for real property tax exemption for alteration or rehabilitation
of historic property filed on or before the appropriate taxable status
date. If the Assessor is satisfied that the property is entitled to
an exemption pursuant to this article and state law, the Assessor
may approve the application and appropriately code the assessment
roll of the Town of Penfield to accurately reflect the exemption on
the entitled property.
This article shall take effect immediately upon filing with
the Secretary of State and shall be used in the preparation of assessment
rolls on or after March 1, 1999.
