[Adopted 2-28-2001 by L.L. No. 3-2001]
This article shall be known as the "Infrastructure
Tax Exemption Law." This article shall provide an exemption from real
property taxation on residential building lots of the value of the
infrastructure constructed in a residential subdivision and intended
to be dedicated to the Town.
As part of the approval process of residential
subdivisions, the Town and its agencies require such subdivisions
to include infrastructure which is ultimately dedicated to the Town.
The additional value attributable to such infrastructure should be
exempt from taxation of the subdivision lots for a limited period
of time and until a certificate of occupancy is issued on the lots,
in order to minimize the negative impact of the taxes on the affordability
of single-family residences in the Town.
As used herein, the following terms shall have
the meaning indicated:
A subdivision approved and the plat filed with the County
Clerk's office prior to effective date of this article.
Facilities which are intended to be dedicated to the Town
or a special district thereof, including streets, storm and sanitary
sewers, drainage facilities and any other facilities required by the
Town or its agencies to be installed in a residential subdivision
as part of the approval process and the filing of the final plat for
such residential subdivision.
A subdivision by the Town or its agencies and the plat filed
with the County Clerk's office after the effective date of this article.
The office established in the executive department pursuant
to Real Property Tax Law § 201.
The division of any parcel of land into any number of residential
building lots, block or sites as provided in the Town's ordinances,
local laws and regulations.
The date determined annually as required in Real Property
Tax Law § 302.
The Town Board hereby enacts this article to
provide for an infrastructure tax exemption pursuant to Chapter 361
of the Laws of 1998, codified as Real Property Tax Law § 485-g.
A.
Residential building lots that are part of a residential
subdivision approved by the Town or its agencies, which include infrastructure
intended to be dedicated to the Town or a special district thereof,
shall be exempt from taxation to the extent of the assessed value
resulting from the addition of such infrastructure. Such exemption
shall be granted until the issuance of a certificate of occupancy
for such lot or lots but in no event longer than three years from
the effective date of the exemption.
B.
To obtain an infrastructure exemption, an owner of
real property constituting a residential subdivision may file an application
with the Town Assessor on a form prescribed by the New York State
Office of Real Property Services. The application shall be filed with
the Assessor on or before the taxable status date, and:
(1)
For a new residential subdivision, not later than
one year from the date of completion of construction, installation
or improvement of the infrastructure within the residential subdivision
and the acceptance of dedication thereof by the Town; or
(2)
For an existing residential subdivision, within one
year from the effective date of this article.
C.
The Assessor, upon review of the application made
by the owner and determination that such owner is entitled to the
exemption, shall approve such application, and the value of the infrastructure
proportionately applied to each of the lots in the residential subdivisions
shall be exempt from taxation commencing with the assessment roll
prepared after the taxable status date.
D.
The assessed value of any infrastructure exemption
shall be entered by the Assessor on the assessment roll with the taxable
property, with the amount of the exemption entered in a separate column.
A copy of this article shall be filed with the
Office of Real Property Services.
