[Adopted 9-1-2015 by L.L.
No. 12-2015]
[Amended 12-21-2022 by L.L. No. 3-2023]
An owner occupied residential property that is the primary residence
of the owner reconstructed, altered, or improved due to damage caused
by Superstorm Sandy, as defined by Subdivision 5 of Section 2 of Chapter
424 of the New York State Laws of 2013, within the Town of Babylon
shall be exempt from taxation by the Town to the extent provided hereinafter.
[Amended 12-21-2022 by L.L. No. 3-2023]
To be eligible for the tax exemption authorized pursuant to § 195-43, such primary residence shall have been owner-occupied by the same owner immediately prior to Superstorm Sandy and immediately after reconstruction with a certificate of occupancy, and have already received assessment relief pursuant to Chapter 424 of the New York State Laws of 2013.
Such primary residence 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 subject to the following:
A.
The extent of such exemption shall be decreased by 12.5% of the "exemption base" each year during such additional period. The "exemption base" shall be the increase in assessed value as determined in the initial year of the term of the exemption, except as provided in Subsection B.
B.
In any year in which a change in level of assessment of 15% or more
is certified for a final assessment roll pursuant to the rules of
the commissioner of taxation and finance of the State of New York,
the exemption base shall be multiplied by a fraction, the numerator
of which shall be the total assessed value of the parcel on such final
assessment roll (after accounting for any physical or quantity changes
to the parcel since the immediately preceding assessment roll), and
the denominator of which shall be the total assessed value of the
parcel on the immediately preceding final assessment roll. The result
shall be the new exemption base. The exemption shall thereupon be
recomputed to take into account the new exemption base, notwithstanding
the fact that the Babylon Town Assessor receives certification of
the change in level of assessment after the completion, verification
and filing of the final assessment roll. The Babylon Town Assessor
of such municipality shall give written notice of such recomputed
exemption to the property owner, who may, if he or she believes that
the exemption was recomputed incorrectly, apply for a correction in
the manner provided by Title 3 of Article 5 of the New York State
Real Property Tax Law for the correction of clerical errors.
[Amended 12-21-2022 by L.L. No. 3-2023]
C.
Such exemption shall be applied to the difference in the pre-storm
assessed value and the increased assessed value attributable to all
the reconstruction, alterations or improvements due to Superstorm
Sandy. 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 Class I ratio in a special assessing unit or the most
recently established state equalization rate or special equalization
rate in the remainder of the state, except where the state equalization
rate or special equalization rate equals or exceeds 95%, in which
case the increase in assessed value attributable to such reconstruction,
alteration or improvement shall be deemed to equal the market value
of such reconstruction, alteration or improvement.
[Amended 12-5-2018 by L.L. No. 21-2018; 12-21-2022 by L.L. No. 3-2023]
No such exemption shall be granted for reconstruction, alterations
or improvements unless commenced due to damage caused by Superstorm
Sandy, and reflected on a certificate of occupancy no later than March
1, 2024. No such exemption be granted for reconstruction, alterations
or improvements to aspects of a primary residence not in existence
or otherwise not a part of the primary residence prior to October
29, 2012.
[Amended 12-5-2018 by L.L. No. 21-2018; 12-21-2022 by L.L. No. 3-2023]
Application for such exemption shall be filed with the Babylon
Assessor by the first of March after the date on which this article
shall have become a law, or the first of March of any subsequent year
thereafter but no later than March 1, 20204, on a form prescribed
by the commissioner of taxation and finance of the State of New York.
[Amended 12-21-2022 by L.L. No. 3-2023]
If satisfied that the applicant is entitled to an exemption
pursuant to this article, the Babylon Town Assessor shall approve
the application and such primary residence shall be exempt from taxation
for up to eight prospective tax years as provided by this article.
The assessed value of any exemption granted pursuant to this article
shall be entered by the Babylon Town Assessor with the amount of the
exemption shown in a separate column.
For the purposes of this article, a "primary residence" shall
mean any building or structure designed and occupied exclusively for
residential purposes by not more than three families, and occupied
by the owner as a primary residence.
In the event that a primary residence granted an exemption pursuant
to this article ceases to be used as a primary residence of the owner,
or the title thereto is transferred, the exemption granted pursuant
to this article shall cease. However, the exemption granted pursuant
to this article shall continue for the remaining exemption period
for as long as an heir-at-law or distributee of such owner occupies
the property as a primary residence.
[1]
Editor's Note: Former § 195-51, Limitations, was
repealed 12-21-2022 by L.L. No. 3-2023.
[Amended 12-5-2018 by L.L. No. 21-2018; 12-21-2022 by L.L. No. 3-2023]
This article shall apply to exemption applications made prior
to the first of March next succeeding the date on which this article
shall have become a law and no later than March 1, 2024, and any exemption
once granted shall continue for a period of up to eight prospective
tax years as set forth in this article.
