[Adopted 8-21-1987 by L.L. No. 11-1987[1]]
It is the purpose of this article to provide for a uniform and orderly procedure for assessing lands for real property tax purposes which are subject to a conservation easement as provided for in Chapter 16 of this Code. Section 247, Subdivision 3, of the General Municipal Law requires that the valuation of lands for real property tax purposes take into account the limitations on the use of land imposed by a conservation easement.
A.
After acquisition by the Town of any conservation easement pursuant to Chapter 16 of this Code, the valuation placed upon such premises, parcel or property upon or from which such interest was granted, for the purposes of real estate taxation, shall take into account and be limited by the limitation placed on the future use of the land by the conservation easement.
B.
The provisions of this section shall only be applicable
to land assessments and shall not in any way be applied to the assessment
of any buildings or structures located on a parcel under a conservation
easement, unless such instrument, by its terms, expressly applies
to said buildings or structures.
A.
If there is substantial violation of the terms and
conditions of the conservation easement or if said easement is extinguished,
then the owner or owners of said property must pay to the Town of
East Hampton the following amounts:
(1)
All taxes abated under the reduced assessment granted
pursuant to this article due to the conservation easement; said taxes
to include the state, county, town, school district and all special
improvement districts and other taxing units to which the property
is subject. The obligation to pay said taxes shall be limited as follows:
(a)
Any easement broken before its 11th year will
be subject to a five-year maximum rollback of the date from which
said taxes due shall be calculated.
(b)
Any easement broken between its 11th and 15th
year will be subject to a four-year maximum rollback of the date from
which said taxes due shall be calculated.
(c)
Any easement broken in its 16th year or later
will be subject to a three-year maximum rollback of the date from
which said taxes due shall be calculated, plus a penalty equal to
the previous year's tax abatement multiplied by a factor equal to
the term of the easement divided by the current year of the easement.
This factor shall not exceed five.
B.
Where a conservation easement is extinguished through
the power of eminent domain, the penalties provided for in this section
shall not be imposed.
