[Adopted 9-19-2012 by L.L. No. 4-2012]
A.
Residential buildings reconstructed, altered or improved subsequent
to the effective date of this article shall be exempt from taxation
and special ad valorem levies by the Town of Evans as provided by
§ 421-1[1] of the New York Real Property Tax Law and to the extent
hereinafter provided.
[1]
Editor's Note: Section 421 was renumbered Real Property
Tax Law § 421-a by L.1977, c. 110, § 1.
B.
Any owner of a one- to three-family residence may qualify for an
exemption pursuant to this section, including owners who do not occupy
such residences, individuals, partnerships and limited liability corporations.
Exemptions granted pursuant to this section are not transferable from
owner to another if the real property is sold or transferred during
the exemption period.
A.
Such residential real property shall be exempt a period of one year
to the extent of fifty per centum of the increase in assessed value
thereof attributable to such reconstruction, alteration or improvement
and for an additional period of four years; provided, however, that
the extent of such exemption shall be decreased by 10%, such that
year two there shall be an exemption of forty per centum of the increase
in assessed value thereof attributable, during year three there shall
be an exemption of thirty per centum of the increase in assessed value
thereof attributable, in year four there shall be an exemption of
twenty per centum of the increase in assessed value thereof attributable
and in year five there shall be an exemption of ten per centum of
the increase in assessed value thereof attributable;
B.
The "exemption base" shall be the increase in assessed value due
to reconstruction, alterations or improvements as determined by the
Assessor in the initial year of such five-year period following the
filing of the original application; and
C.
A qualified reconstruction, alteration or improvement shall have
increased the assessed value of the real property by at least $10,000,
with a maximum permitted exemption not to exceed $150,000;
D.
No such exemption shall be granted unless:
(1)
Such reconstruction, alteration or improvement was commenced subsequent
to the effective date of this article; and
(2)
The value of such reconstruction, alteration or improvement exceeds
$10,000; and
(3)
The greater portion, as so determined by square footage of the building
reconstructed, altered or improved is at least five years old; and
(4)
The owner of real property applying for such exemption has satisfied
all outstanding Town, county, village and school tax obligations;
and
(5)
Such reconstruction, alteration or improvement requires the issuance
of a building permit and is completed as may be evidenced by a certificate
of occupancy or other appropriate documentation provided by the owner.
E.
For purpose of this article, the terms "reconstruction," "alteration"
and "improvement" shall not include ordinary maintenance and repairs.
Such exemption shall be granted only upon application by the
owner of such real property on a form prescribed by the Commissioner.
Such application shall be filed with the Assessor on or before the
appropriate taxable status date and within one year after the date
of completion of such reconstruction, alteration or improvement.
If satisfied that the applicant is entitled to an exemption
pursuant to this section, the Assessor shall approve the application
and such building shall thereafter be exempt from taxation and special
ad valorem levies as provided in this section commencing with the
assessment roll prepared on the basis of the appropriate taxable status
date. The Assessor shall enter the assessed value of any exemption
granted pursuant to this section on the assessment roll for the taxable
property, with the amount of the exemption shown in a separate column.
In the event that real property granted an exemption pursuant
to this section ceases to be used primarily for eligible purposes,
the exemption granted pursuant to this section shall cease.
