[Adopted 7-20-1999 by L.L. No. 3-1999][1]
[1]
Editor's Note: See Private Housing Finance Law, Art. XIX, Affordable Home Ownership Development Program.
[Amended 9-7-1999 by L.L. No. 7-1999]
Home construction projects which received payments, grants or loans pursuant to Article XIX of the Private Housing Finance Law and which were constructed without a building permit or were the subject of illegally issued and/or forged building permits and/or certificates of occupancy and which were fraudulently sold to a good faith purchaser, shall be exempt from taxation as set forth in this article.
A. 
Such eligible property shall be exempt from real property taxes imposed by the Town, including those imposed by the school district, other than assessments for local improvements for a period commencing the year after the taxable status date immediately following the completion thereof and shall be calculated as follows:
Year Following Completion
Percentage of Exemption
1 to 12
100%
13 to 14
80%
15 to 16
60%
17 to 18
40%
19 to 20
20%
B. 
The exemption provided for in this article shall be in addition to any other exemption or abatement authorized by law.