Pursuant to the authority granted by § 444-a of the Real Property Tax Law of the State of New York, properties designated individually as historic landmarks or that are classified as historic, and therefore contribute to the character of the Seneca Falls Human Heritage Historic District, shall be exempt from taxation to the extent of any increase in value attributable to such alteration or rehabilitation completed in accordance with Chapter
173, Historic Preservation, of the Code of the Town of Seneca Falls. Such alteration or rehabilitation shall have been made for means of historic preservation and must meet guidelines and review standards as established in Chapter
173. Additionally, such improvements shall be exempt from special ad valorem levies but shall be liable for special assessments.
This article shall take effect immediately and shall apply to
assessment rolls completed on or after such effective date.