Village of Spring Valley, NY
Rockland County
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Table of Contents
Table of Contents
[Adopted 4-25-2002 by L.L. No. 2-2002]
The Board of Trustees of the Village of Spring Valley hereby finds that:
A. 
The Village of Spring Valley is in need of significant economic development and needs to attract ratables to increase the property tax base of the Village to enable the Village to continue to provide necessary services to its residents.
B. 
The Village of Spring Valley notes that it has created an Urban Renewal Agency pursuant to home rule legislation granted to the Village by New York State, and that pursuant to said legislation the Village has adopted a Blight Study showing the need for major improvements to the downtown of Spring Valley and is currently considering an Urban Renewal Plan, including recommended zone changes to revitalize downtown Spring Valley by attracting private sector developers to make significant investments in rebuilding downtown Spring Valley.
C. 
The Village of Spring Valley also notes that a major retail area centered on the Spring Valley Marketplace is two-thirds empty and has been so for some period of time as a result of the opening of the Palisades Center Mall within a few miles of Spring Valley Village limits.
D. 
The Village of Spring Valley further notes that its other commercial and industrial zoned areas are in significant need of new business investment either for gut rehabilitation of existing structures and/or for demolition and rebuilding.
E. 
The Village of Spring Valley further notes that it is 100 years old on July 9, 2002, and that many of its commercial and industrial structures are very old and may also sit on brownfields.
F. 
The Village of Spring Valley further notes it is necessary to reduce costs to attract private sector investors into Spring Valley and that high taxes are an impediment to further business investment.
G. 
The Village of Spring Valley Board of Trustees therefore began consideration of adopting and implementing a business investment property tax exemption pursuant to § 485-b of the New York State Real Property Tax Law in January of 2002, and has told potential investors that the Village will consider the adoption of this law and would make it retroactive to February 1, 2002, so as not to discourage investment while the Village considered the exact shape of the business investment exemption it is adopting by the passage of this article.
H. 
The Village of Spring Valley further notes that many not-for-profit and other tax-exempt organizations are moving into the Village because of the large number of commercial vacant structures in the Village, thus reducing the Village's property tax base.
I. 
The Village of Spring Valley Board of Trustees appointed an Industrial and Commercial Incentive Board pursuant to § 485-b of the New York State Real Property Tax Law to review the Village's permitted options under state law and to develop a plan for implementation of a specific exemption, deciding on which sectors of the economy should be eligible for the exemption, and to decide which geographic areas would be appropriate for a Village business investment exemption and to recommend whether the Village should adopt an accelerated strategic exemption schedule as permitted by state law and to make any other recommendations to the Village concerning the economic development of the Village.
J. 
Said Board having met and recommended to the Village Board of Trustees the option of said accelerated schedule because it is necessary to encourage targeted economic development and to create or retain permanent private sector jobs, and that the value of the exemptions to be provided is justified by the need to provide employment opportunities and broaden the tax base of the Village, and has further recommended that the value of improvements eligible for the exemption should be in excess of $50,000 and that only certain sectors of the economy should be eligible for these tax exemptions and that only certain geographic areas should be targeted for this exemption as delineated within this article.
K. 
The Village Board hereby confirms and adopts the findings of the Spring Valley Industrial and Commercial Incentive Board, and finds that the adoption of this article will aid the Village in achieving its economic development objectives and broaden the Village tax base and upgrade the quality of life for all Village residents by the upgrading of commercial and industrial structures and the building of new ones and the addition of permanent jobs that such a process will bring to the Village.
This article shall be known as the "Spring Valley Business Investment Partial Exemption Law."
Real property constructed, altered, installed or improved subsequent to February 1, 2002, and whose cost is in excess of $50,000 for the purpose of commercial, business or industrial activity in the economic sectors or subsectors defined in § 237-49 below within the geographic areas of the Village of Spring Valley defined in § 237-50 below shall be exempt from Village taxation and special ad valorem levies, except for special ad valorem levies for fire district, fire protection district and fire alarm district purposes, upon application to the Village Assessor[1] in accordance with the procedures contained in § 485-b of the New York State Real Property Tax Law, for a period of three years to the extent of 50% of the increase in assessed value attributable to such construction, alteration, installation or improvement and for an additional period of one year in the amount of 40% of said increase and for an additional period of one year in the amount of 30% of said increase and for an additional period of one year in the amount of 20% of said increase and for an additional period of three years in the amount of 10% of said increase and for an additional period of one year in the amount of 5% of said increase, the amount of said increase to be computed by the Village Assessor in accordance with the procedures contained in § 485-b of the New York State Property Tax Law.
[1]
Editor’s Note: The position of Assessor in the Village was abolished 11-30-2016 by L.L. No. 5-2016.
A. 
The partial exemption for new business investment authorized by this article shall only be for construction, alteration, installation or improvement of real property for the following sectors and subsectors of economic activity as defined by the North American Industry Classification System published by the United States Government for 2002:
Construction
Manufacturing
Wood product manufacturing
Primary metal manufacturing
Wholesale
Retail
Sporting goods, hobby, book and music stores
Transportation and warehousing
Postal service
Information, except telecommunications
Finance and insurance
Offices of real estate agents and brokers
Offices of real estate appraisers
Rental and leasing services
General rental centers
Commercial and industrial machinery and equipment rental and leasing
Lessors of nonfinancial intangible assets
Professional, scientific and technical services
Management of companies and enterprises
Administrative and support and waste management and remediation services except waste management and remediation services
Educational services
Health care and social services
Arts, entertainment and recreation except amusement, gambling and recreation industries
Accommodation and food services
Repair and maintenance
Personal and laundry services
Death care services
Dry-cleaning and laundry services
Other personal services
Business, professional, labor, political and similar organizations
B. 
In no event may this exemption be granted for any form of residential housing to be constructed, altered, installed or improved. To the extent permitted by New York State law as it may be amended at the time the exemption is requested, the exemption may be granted to that portion of an improvement to a parcel of real property that meets the requirements of this section where said parcel of real property is improved by an investment in a structure that is to be used for residential housing and for any of the uses in the economic sectors and subsectors listed in this section. In such event, the Village Assessor[1] shall make said apportionment.
[1]
Editor’s Note: The position of Assessor in the Village was abolished 11-30-2016 by L.L. No. 5-2016.
The partial exemption for new business investment on real property pursuant to this article shall only be granted for construction, alteration, installation or improvement to real property within geographic areas within the boundaries of the Village of Spring Valley and that lie within geographic areas zoned as POR, PO, NB, GB, HB, PLI, and Mixed Use Districts pursuant to the Spring Valley Village Code.[1]
[1]
Editor's Note: See Ch. 255, Zoning.