[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:
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 mixed-use property to be used for commercial purposes.
The buying, selling or otherwise providing of goods or services,
including hotel/motel services, or other lawful business or commercial
activities permitted in mixed-use property. For the purposes of this
article, tourist accommodations and short-term rentals are not considered
a commercial purpose or use.
[Amended 1-18-2018 by L.L. No. 1-2018]
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.
The Village of Cooperstown.
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 guest sleeping rooms
in a hotel, tourist accommodation, short-term rental, or transient
rental, in the portion of a mixed-use property to be used for residential
purposes.
[Amended 1-18-2018 by L.L. No. 1-2018]
A.
The Village of Cooperstown by this article provides for the exemption
of real property from taxation as provided in 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
|
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.
