[Adopted 5-4-1982 by L.L. No. 1-1982 (Ch. 95, Art. IV, of
the 1976 Code)]
By the adoption of this article, it is the intent of the Riverhead
Town Board to implement the provisions of the Real Property Tax Law
of the State of New York, § 485, as amended July 24, 1976,
subject to the limitations and restrictions stated in this article.
As used in this article, the following terms shall have the
meanings indicated:
The New York State Job Incentive Board created by § 116
of the Commerce Law.
Any person or entity subject to taxation under Article 9-A,
9-B, 9-C, 23, 32 or 33 of the Tax Law.
Includes the whole of Riverhead Town.
A place of business located in an eligible area, which meets
the requirements set forth in § 118 of the Commerce Law
and for which a certificate of eligibility has been issued by the
Board as provided in § 120 of the Commerce Law. A facility
for which a certificate is issued shall be deemed an eligible business
facility only during the taxable year or as of the taxable status
date to which such certificate relates, as provided in § 120
of the Commerce Law.
An individual who is domiciled in an eligible area.
A business facility, to be an eligible business facility for
the purpose of this article, shall meet each of the following requirements:
A.
It shall be located in an eligible area as defined in § 115,
Subdivision (c), of the Commerce Law.
B.
Such facility shall not be an eligible facility under such Subdivision
(c) if it is primarily used in making retail sales of goods or services
to customers who personally visit such facility to obtain such goods
or services or if it is used primarily as an apartment house or other
place of business other than a hotel, motel or other resort facility
utilized for the encouragement, stimulation or promotion of tourist,
travel, resort or vacation business which furnishes dwelling space
or accommodations to either residents or transients. A facility shall
be deemed to meet this requirement if it is used primarily in the
encouragement, stimulation or promotion of tourist, travel, resort
or vacation business within the eligible area and counties outside
such eligible area but contiguous thereto. Such facilities shall include,
but not be limited to, hotels, motels or other resort facilities utilized
in such business pursuits.
C.
It shall be a facility which creates or retains in the eligible area
in which it is located not less than five jobs.
D.
It shall be a facility in which the business concern operating the same provides a training program or programs, satisfactory to the Board, which are approved or approvable under the State Manpower Training Act or registered as an apprentice training program with the State Bureau of Apprentice Training or approved or approvable as a bona fide apprenticeship training program or on-the-job training program under Public Law 90-77, and which prepare residents of the eligible area in which such facility is located for jobs created or retained in such area as required by Subsection C of this section and which assure such residents opportunities for job upgrading and for entry into supervisory positions; provided, however, that if a business concern operating a facility shall have provided such a program or programs for as long as the Board determines to be feasible, the termination of such program or programs, if the Board consents thereto, shall not terminate the eligibility of such facility.
E.
It shall not be an international banking facility. The term "international
banking facility" shall have the same meaning as is set forth in the
New York State Banking Law or regulations of the New York State Banking
Department or as is set forth in the laws of the United States or
regulations of the Board of Governors of the Federal Reserve System.
A.
An eligible business facility, as certified by the New York State
Job Incentive Board, pursuant to § 120 of the Commerce Law,
shall be exempt from taxes and special ad valorem levies imposed by
the Town of Riverhead to the extent granted by the attached schedule
of exemptions of any increase in the value thereof which is attributable
to expenditures certified by said Board to have been paid or incurred
by the owner or operator for capital improvements, commenced on or
after the date upon which the area in which the eligible business
facility is located became an eligible area pursuant to § 115
of the Commerce Law, consisting of the construction, reconstruction,
erection or improvement of depreciable real property included in such
facility. Such exemption shall be applicable for a period not to exceed
five years and shall be continued from year to year during such period
only if the certificate of eligibility with respect to such business
facility is not revoked or modified and is renewed or extended as
provided in § 120 of the Commerce Law.
B.
Such real property shall be exempt for a period of one year to the
extent of 50% of the increase in assessed value attributable to such
construction, reconstruction, erection or improvement of depreciable
real property included in such facility and for an additional period
of four years; provided, however, that the extent of such exemption
shall be decreased by 10% each year during such additional period
of four years. The following table shall illustrate the computation
of the tax exemption:
|
Year of Exemption
|
Percentage of Exemption
| |
|---|---|---|
|
1
|
50%
| |
|
2
|
40%
| |
|
3
|
30%
| |
|
4
|
20%
| |
|
5
|
10%
|
C.
Such exemption shall terminate after the fifth year.
The exemption provided by this article shall be granted only
upon an application by the owner or operator of such facility on a
form prescribed by the State Board, to which there shall be attached
a copy of a certificate of eligibility issued by the New York State
Job Incentive Board. Such application shall be filed with the Riverhead
Assessor's office on or before the appropriate taxable status dates.
Copies of such application shall be filed simultaneously with the
State Board and with the New York State Job Incentive Board.
A.
The Assessors shall consider the application for such exemption and,
if the same is in order, shall determine the assessed value of such
exemption in accordance with the certificate of eligibility and enter
such value on the exemption portion of the assessment roll. The eligible
business facility shall then be exempt, to the extent provided by
this article, from taxes and special ad valorem levies commencing
with the assessment roll prepared on the next following taxable status
date.
B.
If an exemption has once been granted for a business facility under
this section and the Assessors receive notice that a certificate of
eligibility of such facility has been revoked or modified, they shall
redetermine the assessed value of any such exemption in accordance
with such revocation or modification. If upon such redetermination
it appears for a year for which an exemption has been granted that
such facility has been ineligible or that the assessed value of such
exemption as redetermined is less than the assessed value of such
exemption as shown on the assessment rolls for such year, then a tax
shall be levied at the rate of tax for such year upon so much of the
assessed valuation of such exemption, as shown on such assessment
rolls, as may be ineligible or excessive. Such tax shall be levied
as an omitted assessment in the manner provided in § 550
of the Real Property Tax Law for such year. Any such redetermination
shall be made no later than three years after the applicant for exemption
last received benefit of any exemption under this section.
