A. 
The Village Board, when designating a landmark, landmark site or historic district may, at the request of the property owner, the Commission, or on its own motion, recommend in an advisory capacity to the Nassau County Board of Assessors that the assessment of the affected property for general town tax or highway tax purposes, or both, be frozen at present levels or reduced prospectively, and may consider similar relief for Village tax purposes.
B. 
If the Village Board or the Commission finds that the designation of a particular property as a landmark, a landmark site or as part of an historic district will impair its economic viability, the Board of Trustees or the Commission may recommend that the existing assessment or tax burden be reduced to the extent required to assure its continued existence and proper maintenance.