[Adopted 5-23-2011 by L.L. No. 3-2011]
The City Council of the City of Newburgh encourages and promotes
the conversion of numerous vacant and underutilized buildings in the
City formerly used for industrial, warehouse, manufacturing and other
commercial operations to mixed commercial and residential use by providing
an exemption from general municipal taxes pursuant to § 485-a
of the Real Property Tax Law of the State of New York.
As used in this article, the following terms shall have the
following meanings:
Any person obligated to pay real property taxes on the property
for which an exemption from real property taxes under this article
is sought.
The modernization, rehabilitation, expansion or other improvement
of the portion of the mixed-use property to be used for commercial
purposes.
The buying, selling or otherwise providing of goods of service,
including hotel services, or other lawful business or commercial activities
permitted in mixed-use property.
Property on which will exist, after completion of residential
construction work or a combination of residential construction work
and commercial construction work, a building or structure used for
both residential and commercial purposes.
Any town, city or village except a city having more than
1,000,000 inhabitants.
An individual, corporation, limited-liability company, partnership,
association, agency, trust, estate, foreign or domestic government,
or subdivision thereof, or other entity.
The creation, modernization, rehabilitation, expansion or
other improvement of dwelling units, other than dwelling units in
a hotel, in the portion of mixed-use property to be used for residential
purposes.
Nonresidential real property, upon conversion to mixed-use property,
shall be exempt from taxation and special ad valorem levies as provided
in § 485-a of the New York State Real Property Tax Law.
For a period of 12 years from the approval of an application, the
increase in assessed value of such property attributable to such conversion
shall be exempt as provided in the table below. Such exemption shall
be computed with respect to the "exemption base." The exemption base
shall be determined for each year in which there is an increase in
assessed value so attributable from that of the previous year's assessed
value. Such exemption shall be computed in accordance with the following
table:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1 through 8
|
100%
|
|
9
|
80%
|
|
10
|
60%
|
|
11
|
40%
|
|
12
|
20%
|
A.Â
No such exemption shall be granted unless such conversion was commenced
subsequent to the date on which this article takes effect and the
cost of such conversion exceeds the sum of $10,000.
B.Â
For purposes of this section, the term "conversion" shall not include
ordinary maintenance and repairs.
C.Â
No such exemption shall be granted concurrent with or subsequent
to any other real property tax exemption granted to the same improvements
to real property, except where, during the period of such previous
tax exemption, payments in lieu of taxes or other payments were made
in an amount that would have been equal to or greater than the amount
of real property taxes that would have been paid on such improvements
had such property been granted an exemption pursuant to this article.
In such case, an exemption shall be granted for a number of years
equal to the twelve-year exemption granted pursuant to this article
less the number of years the property would have been previously exempt
from real property taxes.
Any exemption pursuant to this article shall be granted only
upon application by the property owner on a form prescribed by the
State Board of the Office of Real Property Tax Services. The application
shall be filed with the Assessor of the City of Newburgh on or before
the taxable status date of March 1 to be eligible for an exemption
to be entered on the assessment roll prepared on the basis of said
taxable status date.
