[Adopted 10-6-2015 by L.L. No. 2-2015]
This article is enacted pursuant to the provisions of § 485-a
of the New York Real Property Tax Law to grant a partial exemption
from taxation to certain real property within the Village of Phoenix
("Village") that has been converted to mixed commercial and residential
use.
For the purposes of this article:
Any person obligated to pay real property taxes on the property
for which an exemption from real property taxes under this article
is sought pursuant to the provisions of § 485-a of the New
York Real Property Tax Law.
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 services, or other lawful business or commercial activities
permitted in mixed-use property.
The increase in the assessed value of real property attributable
to the amount invested, exclusive of the cost of ordinary maintenance
and repairs, to convert such real property to mixed-use property,
as herein defined.
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 or commercial purposes.
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 dwelling units in
a hotel, in the portion of mixed use property to be used for residential
purposes.
A.
Real property within the Village of Phoenix that has been converted
to mixed-use property shall be partially exempt from taxation and
special ad valorem levies as provided hereinafter.
B.
For a period of 12 years from the approval of an application as described in § 177-24 of this article, the exemption base of such property shall be exempt pursuant to the following schedule:
|
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
|
D.
For purposes of this article, the term "conversion" shall not include
ordinary maintenance and repairs.
E.
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 12-year exemption granted pursuant
to this article less the number of years the property would have been
previously exempt from real property taxes.
Such exemption shall be granted only upon application by the
owner of such real property on a form prescribed by the New York State
Office of Real Property Tax Services. Such application shall be filed
with the Tax Assessor on or before the appropriate status date.
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 provided herein, commencing with the assessment roll prepared after the taxable status date referred to hereinabove at § 177-24. 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.
