[Adopted 1-24-2000 by L.L. No. 1-2000[1]]
[1]
Editor's Note: This local law was adopted
pursuant to the authority granted by § 444-a of the Real
Property Tax Law.
Real property altered or rehabilitated subsequent
to the effective date of this article shall be exempt from taxation
and special ad valorem levies as herein provided.
Historic property shall be exempt from taxation
to the extent of any increase in value attributable to such alteration
or rehabilitation pursuant to the following schedule:
|
Year
|
Percentage of Exemption
|
|---|---|
|
1
|
100%
|
|
2
|
100%
|
|
3
|
100%
|
|
4
|
100%
|
|
5
|
100%
|
|
6
|
80%
|
|
7
|
60%
|
|
8
|
40%
|
|
9
|
20%
|
|
10
|
0%
|
No such exemption shall be granted for such
alterations or rehabilitation unless:
A.
Such property has been 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 § 96-a of 119-dd
of the General Municipal Law.
B.
Alterations or rehabilitation must be made for the
purpose of historic preservation.
C.
Such alterations or rehabilitation of historic property
meet guidelines and review standards in the local preservation law.
D.
Such alterations or rehabilitation of historic property
are approved by the local preservation commission prior to the commencement
of work.
E.
Alteration or rehabilitation is commenced subsequent
to the effective date of this article.
Such exemption shall be granted only by application
of the owner or owners of such historic real property on a form prescribed
by the state board. The application shall be filed with the Assessor
of the county, City, town or village having power to assess property
for taxation on or before the appropriate taxable status date of such
county, City, town, or village.
Such exemption shall be granted where the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article. The Assessor shall approve such application and such property shall thereafter be exempt from taxation and special ad valorem levies as herein provided commencing with the assessment roll prepared on the basis of the taxable status date referred to in § 234-31 of this article. The assessed value of any exemption granted pursuant to this section shall be entered by the Assessor on the assessment roll with the taxable property, with the amount of the exemption shown in a separate column.
