[Adopted 2-22-2000 by L.L. No. 1-2000 (Ch.
28, Art. V, of the 1972 Code)]
A.
This real property tax exemption is being enacted
in order to achieve the following goals: to increase incentives for
property owners in historic districts to invest in the upkeep and
rehabilitation of properties; to provide an incentive for the restoration
and rehabilitation of commercial structures which qualify as landmarks
in order to provide financial advantages; to assist homeowners who
are interested in restoring their own properties, but may not be able
to afford to do so when faced with potential increases in taxation
as the result of alterations which would qualify for this exemption,
and to provide a concrete benefit to offset the possible financial
disadvantage of owning historically significant properties which are
subject to the regulations of the Village of East Aurora's Historic
Preservation Law.[1]
B.
The Village of East Aurora's real property exemption
is intended to apply to alterations or rehabilitations of historic
property as authorized pursuant to § 444-a of the Real Property
Tax Law.
C.
This article is intended to create a property tax
exemption that preserves or increases the historic character of real
property located within the Village of East Aurora.
Historic property as defined herein within the Village of East Aurora altered or rehabilitated subsequent to the effective date of this article shall be exempt from Village real property and special ad valorem levies, subject to and in accordance with the schedule set forth in § 235-28, provided such property meets the requirements as set forth in § 235-29.
Historic property as defined herein shall be
exempt from taxation to the extent of any increase in assessed value
attributable to such alteration or rehabilitation pursuant to the
following schedule:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
100%
|
|
2
|
100%
|
|
3
|
100%
|
|
4
|
100%
|
|
5
|
100%
|
|
6
|
80%
|
|
7
|
60%
|
|
8
|
40%
|
|
9
|
20%
|
|
10
|
0%
|
A.
No such exemption shall be granted for such alterations
or rehabilitation unless all of the following requirements have been
met:
(1)
Such property must be "historic," which shall mean
that the property has been designated as a landmark or is a property
that is located in and contributes to the character of a designated
historic district, created by a local law which was passed pursuant
to § 96-a or 119-dd of the General Municipal Law;
(2)
Alteration or rehabilitation of exteriors and public interiors (to extent that public interiors are regulated by the local preservation law) of historic local property must meet guidelines and review standards established by Chapter 156 of the Code of the Village of East Aurora;
(3)
Alterations and rehabilitation of exteriors and public interiors (to extent that public interiors are regulated by the local preservation law) of historic local property are approved pursuant to Chapter 156 of the Code of the Village of East Aurora prior to commencement of work; and
(4)
Alteration or rehabilitation must be for the purpose
of historic preservation if:
(5)
Alterations or rehabilitation must be commenced subsequent
to the effective date of this article.
B.
This exemption shall be granted where the assessor is satisfied that the applicant is entitled to an exemption pursuant to this section. The Assessor shall approve such application and such property shall thereafter be exempt from taxation and special ad valorem levies for Village real property taxation as provided in the schedule established in this article commencing with the assessment roll prepared on the basis of the taxable status date referred to in § 235-30 of this article. The assessed valuation of any exemption granted pursuant to this section shall be entered by the assessor on the assessment roll with the taxable property, with the amount of the exemptions shown in a separate column.
This article shall take effect immediately and
shall apply to assessment rolls completed on or after such effective
date.
