[Adopted 12-12-2023 by L.L. No. 9-2023[1]]
[1]
Editor's Note: This local law consolidated former Art. VII, Indian Point III Nuclear Generating Facility Exemption, adopted 8-14-2001 by L.L. No. 8-2001, and Art. VIII, Exemption for Nuclear-Powered Electric Generating Facilities, adopted 4-16-2002 by L.L. No. 3-2002, as amended.
The following parcels, as shown on the Tax Maps of the Town of Cortlandt as (section, block, and lot) SBL 43.10-2-1, SBL 43.10-2-2, SBL 43.10-2-3, and SBL 43.14-2-1.1 be and hereby are determined to be exempt from the real property tax assessment rolls of the Town of Cortlandt.
The Town Board will be authorized by resolution to enter into a PILOT Agreement with the owner of any current or former nuclear generating facility which meets the criteria of the Real Property Tax Law. Said PILOT agreement will be on such terms and conditions as the Town Board may deem appropriate and adopted by further resolution.
Any PILOT agreement entered into by the Town may also be concurred in by other taxing entities which utilize the Town's assessment roll, such as Westchester County, the Hendrick Hudson School District, the Westchester County Solid Waste District, and the Verplanck Fire District. Upon concurrence, said property will be deemed to be exempt for the purposes of their assessment rolls.
Pursuant to § 485 of the Real Property Tax Law of the State of New York, the Town Board of the Town of Cortlandt is authorized to exempt current and former nuclear-powered electric generating facilities from taxation, special ad valorem levies and special assessments imposed by the Town to the extent provided in §§ 485 and 490 of the Real Property Tax Law.
The Town Board finds that exemption from taxation of current and former nuclear-powered electric generating facilities located in the Town, providing for payments in lieu of tax agreements, and removal of the nuclear-powered electric generating facilities located in the Town from the state equalization program is in the best interest of the Town and will facilitate economic and fiscal stability for the Town and its citizens.
Pursuant to, and to the fullest extent permitted by, Real Property Tax Law §§ 485 and 490, the Town Board hereby exempts current and former nuclear-powered electric generating facilities located within the Town from taxation, special ad valorem levies and special assessments imposed by the Town subject to a PILOT agreement approved by the Town Board.