In accordance with § 457 of the New York State Real
Property Tax Law, newly constructed primary residential property purchased
by one or more persons, each of whom is a first-time home buyer and
has not been married to a homeowner in the three years prior to applying
for this first-time homeowners exemption, shall be exempt from taxation
levied by the Village of Potsdam for property constructed in the Village
of Potsdam.
The intent of this article is to encourage newly constructed
primary residential houses, to improve the quality of housing in the
community and to expand the tax base of the Village of Potsdam.