For purposes of this chapter, the following definitions shall
apply:
ASSESSOR
The Chairman of the Nassau County Board of Assessors.
BOARD
The Nassau County Board of Assessors.
RESIDENTIAL BUILDING
Any building or structure designed and occupied exclusively
for residential purposes by not more than two families.
Residential buildings reconstructed, altered or improved for
residential purposes shall be exempt from taxation and special ad
valorem levies to the extent provided hereinafter.
For the purposes of this chapter, the terms "reconstruction,"
"alteration" and "improvement" shall not include ordinary maintenance
and repairs.
No exemption shall be granted for reconstruction, alterations
or improvements unless:
A. Such reconstruction, alteration or improvement was commenced subsequent
to the effective date of this chapter;
B. The value of such reconstruction, alteration or improvement exceeds
$3,000; and
C. The greater portion, as so determined by square footage, of the building
reconstructed, altered or improved is at least five years old.
[Amended 3-22-1994 by L.L. No. 28-1994, effective 3-28-1994]
Such exemption shall be granted only upon application by the
owner of such building on a form prescribed by the State Board of
Equalization and Assessment. The original of the application shall
be filed with the Assessor on or before May 1, which is the taxable
status date.
[Amended 3-22-1994 by L.L. No. 28-1994, effective 3-28-1994]
In the event that a building granted an exemption pursuant to
this chapter ceases to be used primarily for residential purposes
or title thereto is transferred to other than the heirs or distributees
of the owner, the exemption granted pursuant to this chapter shall
cease.