[Adopted 4-22-2019 by L.L. No. 2-2019]
Article IV, § 152-11, revoking the business exemption is hereby revoked and rescinded.
The purpose of this article, adopted pursuant to the provisions
of § 485-b of the Real Property Tax Law of the State of
New York, is to provide incentives for the construction, alteration,
installation or improvement of existing businesses and the location
of new businesses in the Town of Haverstraw granting tax exemptions
to said businesses for the periods specified herein.
Real property constructed, altered, installed or improved subsequent
to the effective date of this article, for the purpose of commercial,
business or industrial activity shall be exempt from taxation and
special ad valorem levies to the extent hereinafter provided.
A.
Duration and computation.
(1)
Such real property shall be exempt for a period of one year to the extent of 50% of the increase in assessed value thereof attributable to such construction, alteration, installation or improvement, and for an additional period of nine years; provided, however, that the extent of such exemption shall be decreased by 5% each year during such additional period of nine years, and such exemption shall be computed with respect to the exemption base. The "exemption base" shall be the increase in the assessed value as determined in the initial year of such ten-year period following the filing of an original application, except as provided in Subsection A(2) of this section.
(2)
In any year in which a change of level of assessment of 15% or more
is certified for a final assessment roll pursuant to the rules of
the State Board, 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 Assessor receives the certification of the change
in level of assessment after the completion, verification and filing
of the final assessment roll. In the event that the Assessor does
not have custody of the roll when such certification is received,
the Assessor shall certify the recomputed exemption to the local officers
having custody and control of the roll, and such local officers are
hereby directed and authorized to enter the recomputed exemption certified
by the Assessor on the roll. The Assessor 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 for in the Real Property Tax
Law of the State of New York.
(3)
The following table shall illustrate the computation of the tax exemption:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
50%
|
|
2
|
45%
|
|
3
|
40%
|
|
4
|
35%
|
|
5
|
30%
|
|
6
|
25%
|
|
7
|
20%
|
|
8
|
15%
|
|
9
|
10%
|
|
10
|
5%
|
B.
No exemption shall be granted unless:
(1)
Such construction, alteration, installation or improvement was commenced
subsequent to the effective date of this article;
(2)
The cost of construction, alteration, installation or improvement
exceeds the sum of $30,000; and
(3)
Such construction, alteration, installation or improvement is completed
as may be evidenced by a certificate of occupancy or other appropriate
documentation as provided by the owner.
C.
For the purposes of this article, the terms "construction," "alteration,"
"installation" or "improvement" shall not include ordinary maintenance
and repairs.
D.
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.
Such exemption shall only be granted upon application by the
owner of such real property on a form prescribed by the State Board.
Such application shall be filed with the Assessor of the town, village
or county having the power to assess the property for taxation on
or before the appropriate taxable status date of such town, village
or county and within one year from the date of completion of such
construction, alteration, installation or improvement.
If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article, he shall approve the application, and such real property shall thereafter be exempt from taxation and special ad valorem levies as herein provided commencing with the assessment roll prepared after the taxable status date referred to in § 152-38 herein. In the event the real property is sold during the time period of the exemption, the exempt status shall continue to be provided to the property, provided the property continues to be used for eligible purposes.
The provisions of this article shall apply to real property
used primarily for the buying, selling, storing or developing of goods
or services, the manufacture or assembly of goods or the processing
of raw materials. This article shall not apply to property used primarily
for the furnishing of dwelling space or accommodations to either residents
or transients, other hotels or motels.
In the event that real property granted an exemption pursuant
to this article ceases to be used primarily for eligible purposes,
the exemption granted pursuant to this article shall cease.
To the extent it is inconsistent therewith, this article is
intended to supersede § 485-b of the Real Property Tax Law
of the State of New York. This article shall take effect on April
1, 2021.
