Village of Lindenhurst, NY Article IV Tax Relief for Home Improvements

[Adopted 2-15-1994 as L.L. No. 1-1994]

§ 171-28 Legislative intent.

The intent of this legislation is to permit the granting of real property tax exemptions to homeowners who make capital improvements to their property pursuant to § 421-f of the Real Property Tax Law.

§ 171-29 Definitions.

For purposes of this article, the following definitions shall apply:

ASSESSOR

The Assessor of the Incorporated Village of Lindenhurst or his or her successor.

BOARD

The Board of Trustees of the Incorporated Village of Lindenhurst.

RESIDENTIAL BUILDING

Any building or structure designed and occupied exclusively for residential purposes by not more than two families.

§ 171-30 Applicability of exemption.

Residential buildings reconstructed, altered or improved for residential purposes shall be exempt from taxation and special ad valorem levies to the extent provided hereinafter.

§ 171-31 Ordinary maintenance accessory structures and repairs excluded.

For the purpose of this article, the terms "reconstruction," "alteration" and "improvements" shall not include ordinary maintenance and repairs or reconstruction, alteration and improvements to accessory structures.

§ 171-32 Amount of exemption.

A. Such buildings shall be exempt for a period of one year to the extent of 100% of the increase in assessed value thereof attributable to such reconstruction, alteration or improvement. Thereafter, for an additional period of seven years, the extent of such exemption shall be decreased by 12 1/2% of the initial exemption each year during such additional period.

B. Such exemption shall be limited to $80,000 in increased market value of the property attributable to such reconstruction, alteration or improvement. Any increase in market value greater than $80,000 shall not be eligible for the exemption.

§ 171-33 Conditions of exemption.

A. No exemption shall be granted for reconstruction, alterations or improvements unless:

(1) Such reconstruction, alteration or improvement was commenced subsequent to the effective date of this article;

(2) The value of such reconstruction, alteration or improvement exceeds $5,000; and

(3) The greater portion, as so determined by square footage, of the building reconstructed, altered or improved is at least five years old.

§ 171-34 Application for exemption.

A. Such exemption shall be granted only upon application by the owner of such building on a form prescribed by the Board. The original of the application shall be filed with the Assessor at least 90 days before the date for filing the final assessment roll.

B. If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article, he shall approve the application, and such buildings shall thereafter be exempt from taxation and special ad valorem levies as herein provided commencing with the assessment roll prepared after the taxable status date referred to in Subsection A of this section.

§ 171-35 Cessation of residential use.

In the event that a building granted an exemption pursuant to this article ceases to be used primarily for residential purposes or title thereto is transferred to other than the heirs or distributed use of the owner, the exemption granted pursuant to this article shall cease.

§ 171-36 Effective date.

[Amended 5-4-1999 by L.L. No. 1-1999]

This article shall become effective immediately upon filing with the Secretary of State of the State of New York and shall terminate and become of no further legal force and effect, and no further applications for exemptions as described hereunder may be accepted after the last day of February 2004. Any application for exemption approved prior to the expiration of this article shall enjoy the benefits conferred hereunder, which in no event shall continue beyond the eighth anniversary of the expiration of this article.