[Adopted 2-28-2017 by L.L. No. 1-2017]
The purpose of this article is to afford and provide an exemption
from general municipal taxes for developers and building owners to
convert nonresidential real property to residential housing units
and commercial mixed uses in accordance with New York State Real Property
Tax Law § 485-a.
This article is adopted pursuant to New York State Real Property
Tax Law § 485-a, Subdivision 2, which expressly authorizes
the Town of Massena to enact a local law providing for such exemption.
The definition of terms in § 485-a shall apply to the provisions
of this article.
Beginning with assessment rolls prepared on the basis of taxable
status dates occurring on or after March 1, 2017, pursuant to New
York State Real Property Tax Law § 485-a, nonresidential
real property, upon conversion to mixed-use property, shall be exempt
from taxation and special ad valorem levies levied to the extent set
forth herein. 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 below. 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. Such exemption shall be computed in accordance with the following
table:
|
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 such conversion was commenced
subsequent to the date on which this article takes effect; and the
cost of such conversion exceeds the sum of $10,000.
B.
For purposes of this section, 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
exemptions, payments in lieu of taxes or other payments were made
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.
Any exemption pursuant to this article shall be granted only
upon application by the owner of such real property on a form prescribed
by the State Board of Real Property Services and the Town of Massena.
Such application shall be filed with the Assessor of the Town of Massena
on or before the taxable status date of March 1.
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 in the article,
commencing with the assessment roll prepared after the taxable status
date of March 1. The assessed value of any exemption granted pursuant
to this article shall be entered by the Assessor on the assessment
roll of the taxable property, with the amount of the exemption shown
in a separate column.
