Village of Freeport, NY Exemption From Taxes

Editor's Note: This local law repealed former Art. V, Reimbursement of Taxes.

Landmark property shall be exempt from taxation to the extent of any increase in value attributable to such alteration or rehabilitation pursuant to the following schedule:

	Year of Exemption	Percent of Exemption
	1	100%
	2	100%
	3	100%
	4	100%
	5	100%
	6	80%
	7	60%
	8	40%
	9	20%
	10	0%

No such exemption shall be granted for such alterations or rehabilitation unless:

(1)

Such property has been designated as a landmark, or is property that contributes to the character of an historic district, pursuant to the provisions of this chapter; and

(2)

Alterations or rehabilitation to said property are made for means of historic preservation; and

(3)

Such alterations or rehabilitation of historic property meet guidelines and review standards set forth within § 134-11 herein; and

(4)

Such alterations or rehabilitation of historic property are approved by the Village's Landmarks Preservation Commission prior to the commencement of work; and

(5)

Alterations or rehabilitation are commenced subsequent to the effective date of this article.

Such exemption shall be granted only by application of the owner or owners of such historic real property on a form prescribed by the State Board. The application shall be filed with the Village Assessor on or before the appropriate tax status date for the Village of Freeport.

Such exemption shall be granted where the Village Assessor is satisfied that the applicant is entitled to an exemption pursuant to this section. The Village Assessor shall approve such application, and such property shall thereafter be exempt from taxation and special ad valorem levies as herein provided commencing with the assessment roll prepared on the basis of the Village of Freeport's taxable status date. The assessed value of any exemption granted pursuant to this section shall be entered by the Assessor on the assessment roll with the taxable property, with the amount of the exemption shown in a separate column.