Village of Cooperstown, NY
Otsego County
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Table of Contents
Table of Contents
[Adopted 6-24-2013 by L.L. No. 11-2013]
The purpose of this article is to adopt § 485-a of the New York State Real Property Tax Law providing for a residential-commercial urban exemption program.
As used in this article, the following terms shall have the following meanings:
APPLICANT
Any person obligated to pay real property taxes on the property for which an exemption from real property taxes under this article is sought.
COMMERCIAL CONSTRUCTION WORK
The modernization, rehabilitation, expansion or other improvement of the portion of mixed-use property to be used for commercial purposes.
COMMERCIAL PURPOSE OR USE
The buying, selling or otherwise providing of goods or services, including hotel services, or other lawful business or commercial activities permitted in mixed-use property. For the purposes of this article, a tourist accommodation is not considered a commercial purpose or use.
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.
MUNICIPALITY
The Village of Cooperstown.
PERSON
An individual, corporation, limited liability company, partnership, association, agency, trust, estate, foreign or domestic government or subdivision thereof, or other entity.
RESIDENTIAL CONSTRUCTION WORK
The creation, modernization, rehabilitation, expansion or other improvement of dwelling units, other than dwelling units in a hotel or tourist accommodation, in the portion of mixed-use property to be used for residential purposes.
A. 
The Village of Cooperstown by this article provides for the exemption of real property from taxation as provided in this article.
B. 
Following the adoption of this article, nonresidential real property, upon conversion to mixed-use property, shall be exempt from taxation and special ad valorem levies as provided for in § 250-31 of this article.
A. 
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 Subsection B of this section. 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.
B. 
The following table shall illustrate the computation of the tax exemption:
Year of Exemption
Percentage of Exemption
1 through 8
100% of exemption base
9
80% of exemption base
10
60% of exemption base
11
40% of exemption base
12
20% of exemption base
A. 
No such exemption shall be granted unless:
(1) 
Such conversion was commenced subsequent to the date on which this article took effect; and
(2) 
The cost of such conversion exceeds the sum of $10,000 or such greater amount as may be specified by local law.
B. 
For purposes of this article, the term "conversion" shall not include ordinary maintenance and repairs.
C. 
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 exemption, payments in lieu of taxes or other payments were made to the local government 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.
A. 
Such exemption shall be granted only upon application by the owner of such real property on a form prescribed. Such application shall be filed with the Assessor of the Village of Cooperstown on or before the appropriate taxable status date of the Village.
[Amended 4-27-2015 by L.L. No. 7-2015]
B. 
If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article, he or she shall approve the application, and such real property shall thereafter be exempt from taxation and special ad valorem levies as in this article provided, commencing with the assessment roll prepared after the taxable status date referred to in Subsection A of this section. The assessed value of any exemption granted pursuant to this article 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.