City of North Tonawanda, NY
Niagara County
By using eCode360 you agree to be legally bound by the Terms of Use. If you do not agree to the Terms of Use, please do not use eCode360.
Table of Contents
Table of Contents
[HISTORY: Adopted by Common Council of City of North Tonawanda 12-7-1976 as L.L. No. 2-1976. Amendments noted where applicable.]
[1]
Editor's Note: This chapter was adopted as an amendment to the Charter and was numbered as L.L. No. 1-1976. It was corrected by resolution adopted 1-11-1977 to become an amendment to the Code and to be known as L.L. No. 2-1976.

§ 53-1 Power to grant tax exemptions to businesses.

Pursuant to Chapter 798 of the Laws of 1976 of the State of New York and §§ 115, 117, 118 and 120 of the Commerce Law and § 485 of the Real Property Tax Law, the City Assessor and Board of Assessment Review shall have the power and be charged with the duty to carry out the purposes and intent of said laws to grant eligible business facility owners or operators, as defined by said laws, tax exemptions or credit from taxes and special ad valorem assessments imposed subsequent to July 1, 1976, upon any new or increased capital investment in construction, reconstruction, erection or improvements to depreciable real property.

§ 53-2 Certificate of eligibility; submission of application.

It shall be necessary, to qualify for such exemption, for the owner or operator of an eligible business facility to obtain a certificate of eligibility from the New York State Job Incentive Board and to file same with applicable forms as prescribed by the Board of Equalization and Assessment with the City Assessor before the applicable taxable status date.

§ 53-3 Determination of assessed value.

Upon submission of the aforesaid application and proof of eligibility, the City Assessor shall consider such application for such exemption and, if found to be in order, shall determine the assessed value of the improvements and the value of the exempt portions thereof and enter such values on the appropriate exempt or nonexempt assessment rolls.

§ 53-4 Amount and duration of exemption.

The City Assessor shall be authorized and empowered hereby to grant exemption from taxation and special ad valorem levies for eligible firms and eligible projects in the amount of 100% for 10 years. Such exemptions so granted shall continue from year to year during the period of years as above provided as long as the certificate of eligibility remains in force and is not revoked or modified pursuant to § 120 of the Commerce Law.

§ 53-5 Restriction on eligibility.

No firm or project shall be granted tax exemption for new capital investment in depreciable real property under this law if said firm and said investment have previously been granted exemption from taxes under Chapter 278 of the Laws of 1976 or other laws which have or may be passed.

§ 53-6 When effective.

This local law shall take effect immediately.