[Adopted 7-22-2015 by L.L. No. 3-2015]
Nonresidential buildings that are converted to a mixture of
residential and commercial uses pursuant to § 485-a of the
New York State Real Property Tax Law shall be exempt from taxation
and special ad valorem levies levied.
A.
The exmption is calculated as a percentage of the "exemption base,"
which is the increase in assessed value attributed to the conversion.
The base should be determined for each year in which there, is such
an increase attributed to an eligible conversion. The exemption is
to be calculated by the following method:
|
Year
|
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.
No such exemption shall be granted concurrent with or subsequent
to any other real property tax exemption granted to the same improvement
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 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 section. In such case, an exemption shall be granted for a
number of years equal to the twelve-year exemption granted pursuant
to this section less the number of years the property would have been
previously exempt from real property taxes.
A.
No such exemption shall be granted for reconstruction, alterations
or improvements unless:
(1)
Such conversion was commenced subsequent to the effective date of
the article adopted; and
(2)
The value of such reconstruction, alteration or improvement exceeds
$10,000; and
(3)
The reconstruction, alteration or improvement shall have been permitted
by the Code Enforcement Officer such that a building permit issued
and said reconstruction, alteration or improvement shall have met
all necessary approvals per the applicable New York State Uniform
Fire Prevention and Building Code, Village of LeRoy Municipal Code
and the Code Enforcement Officer upon completion; and
(4)
Such conversion is for nonresidential property converted to a mixture
of residential and commercial uses. The exemption does not apply to
improvements for dwelling units in a hotel.
B.
For purposes of this section the terms "reconstruction," "alteration,"
and "improvement" shall not include ordinary maintenance and repairs.
The following shall not be considered conversion except to the extent
that they are a part of an addition, remodeling or modernization:
exterior painting; the replacement of exterior siding; interior painting;
plastering; paneling or wallpapering; replacement of flooring or floor
coverings; repairs to electrical or plumbing systems.
C.
In the event that a building granted an exemption pursuant to this
article ceases to be used primarily for mixed residential and commercial
purposes or title thereto is transferred to other than the heirs or
distributees of the owner, the exemption granted pursuant to this
article shall cease.
Such exemption shall be granted only upon application by the
owner of such building on a form prescribed by the State Board of
Real Property Services. The application shall be filed with the Assessor
of the Town of LeRoy on or before the taxable status date of March
1. Any exemption pursuant to this article shall be granted only upon
application by the owner thereof on the form prescribed by the State
Board. The application shall be filed with the Assessor of the Town
of LeRoy on or before the taxable status date of March 1 to be eligible
for an exemption to be entered on the assessment roll prepared on
the basis of said taxable status date.
This article shall take effect immediately.
