[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.
- 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.
- EXEMPTION BASE
- 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.
- 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 or commercial purposes.
- 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, in the portion of mixed use property to be used for residential purposes.
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.
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:
For purposes of this article, the term "conversion" shall not include ordinary maintenance and repairs.
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.