[Adopted 7-21-2014 by L.L. No. 2-2014]
In accordance with § 421-f of the New York State Real
Property Tax Law, improvements to one- and two-family houses resulting
in a change in the assessed valuation of at least $15,000 shall be,
upon application, eligible for an exemption of Village of Delhi property
taxes per the terms of this article, such abatement not to exceed
$80,000.
The intent of this article is to encourage property owners to
make improvements to one- and two-family houses, to improve the quality
of housing in the community, and to preserve and expand the tax base
of the Village of Delhi.
The improvements to residential buildings reconstructed, altered
or improved subsequent to the effective date of this article for residential
purposes shall be exempt from taxation to the extent provided hereinafter.
For the purposes of this article, a "residential building" shall mean
any building or structure designed and occupied exclusively for residential
purposes by not more than two families.
The improvements to such buildings shall be exempt for a period
of one year to the extent of 100% of the increase in assessed value
thereof attributable to such reconstruction, alteration or improvement
and for an additional period of seven years; provided, however, that
the extent of such exemption shall be decreased by 12 1/2% of
the initial exemption during such additional period, which shall be
the increase in assessed value as determined in the initial year of
the term of the exemption; provided, further, that such exemption
shall be limited to $80,000 in increased market value of the property
attributable to such reconstruction. Alteration or improvement, and
any increase in market value greater than such amount shall not be
eligible for the exemption granted herein. For the purposes of this
section, the market value of the reconstruction, alteration or improvement
shall be equal to the increased assessed value attributable to such
reconstruction, alteration or improvement divided by the most recently
established New York State equalization rate except where the state
equalization rate equals or exceeds 95%, in which case the increase
in assessed value attributable to such reconstruction, alteration
or improvement shall equal the market value of such reconstruction,
alteration or improvement.
|
Exemption Table
| |||||
|---|---|---|---|---|---|
|
Year 1
|
100%
|
Year 4
|
62.5%
|
Year 7
|
25.0%
|
|
Year 2
|
87.5%
|
Year 5
|
50.0%
|
Year 8
|
12.5%
|
|
Year 3
|
75.0%
|
Year 6
|
37.5%
|
Year 9
|
0.00%
|
A.
Such reconstruction, alteration or improvement must be commenced
subsequent to the effective date of this article.
B.
The value of such reconstruction, alteration or improvement must
exceed $15,000. The maximum exemption permitted under this article
is $80,000.
C.
For the purposes of this section, the terms "reconstruction," "alteration"
and "improvements" shall not include ordinary maintenance and repairs.
Swimming pools shall not be considered to constitute an alteration
or improvement for the purpose of this article.
D.
The greater portion, as so determined by square footage, of the buildings
reconstructed, altered or improved must be at least five years old.
E.
The owner of such building must make application on the form prescribed
by the State Board on or before the taxable status date. A certificate
of compliance or a certificate of occupancy issued in connection with
the reconstruction, alteration or improvement must be submitted with
the application.
F.
If the Assessor is satisfied that an applicant is entitled to an
exemption under the provisions of this article, the Assessor shall
approve the application, and such building shall thereafter be exempt
from taxation and special ad valorem levies as herein provided commencing
with the next assessment roll. The assessed value of any exemption
granted pursuant to this section shall be entered by the Assessor
on the portion of the assessment roll provided for the property exempt
from taxation.
G.
Once an exemption has been granted, reapplication will not be necessary
for the exemption after the initial year in order for the exemption
to continue. However, in any year in which a change in level of assessment
of 15% or more is certified for a final assessment roll, the exemption
base shall be automatically recomputed.
An exemption granted pursuant to this article shall cease in
the event that a building granted an exemption ceases to be used primarily
for residential purposes or in the event that title thereto is transferred
to other than the heirs or distributees of the owner. Properties currently
receiving an exemption or abatement under other sections of the Real
Property Tax Law (such as § 485-e) shall continue under
the previous exemption or abatement.
If any section or subsection, paragraph, clause, phrase or provision
of this article shall be adjudged invalid or held unconstitutional
by any court of competent jurisdiction, such adjudication shall not
affect the validity of this article as a whole or any part thereof
other than the part or provision so adjudged to be invalid or unconstitutional.
This article shall take effect upon filing with the Secretary
of State pursuant to the Municipal Home Rule Law. However, the implementation
of the law will not go into effect until after the next taxable status
date and the establishment of the property tax roll.
The Village Clerk is hereby directed to file a certified copy
of this article with the State Board of Equalization and Assessment.
