[Adopted 3-13-1997 by L.L. No. 2-1997]
Historic barns which are reconstructed or rehabilitated
shall be exempt from taxation to the extent provided in Real Property
Tax Law § 483-b. A copy of this article shall be filed with
the State Board and the Assessor of the Town.
A.
Such barns 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 or rehabilitation and for an additional period
of nine years subject to the following:
(1)
The extent of such exemption shall be decreased by 10% of the exemption base each year during such additional period. The "exemption base" shall be the increase in assessed value as determined in the initial year of the term of the exemption, except as provided in Subsection A(2) of this section.
(2)
In any year in which a change in level of assessment
of 15% or more is certified for a final assessment roll pursuant to
the rules of the State Board, the exemption base shall be multiplied
by a fraction, the numerator of which shall be the total assessed
value of the parcel on such final assessment roll (after accounting
for any physical or quantity changes to the parcel since the immediately
preceding assessment roll), and the denominator of which shall be
the total assessed value of the parcel on the immediately preceding
final assessment roll. The result shall be the new exemption base.
The exemption shall thereupon be recomputed to take into account the
new exemption base, notwithstanding the fact that the Assessor receives
certification of the change in level of assessment after the completion,
verification and filing of the final assessment roll. In the event
that the Assessor does not have custody of the roll when such certification
is received, the Assessor shall certify the recomputed exemption to
the local officers having custody and control of the roll, and such
local officers are hereby directed and authorized to enter the recomputed
exemption certified by the Assessor on the roll. The Assessor shall
give written notice of such recomputed exemption to the property owner,
who may, if he or she believes that the exemption was recomputed incorrectly,
apply for a correction in the manner provided by Title 3 of Article
5 of the Real Property Tax Law for the correction of clerical errors.
B.
No such exemption shall be granted for reconstruction
or rehabilitation unless such reconstruction or rehabilitation was
commenced subsequent to January 1, 1997.
C.
No such exemption shall be granted to a historic barn
which is receiving an exemption pursuant to § 483 of the
Real Property Tax Law or which has received an exemption pursuant
to that section within 10 years of the date of the application for
exemption filed pursuant to this section.
D.
No such exemption shall be granted to a historic barn
which is used for residential purposes.
E.
No such exemption shall be granted for reconstruction
and rehabilitation expenses that materially alter the historic appearance
of the barn.
Such exemption shall be granted only upon application
by the owner of such barn on a form prescribed by the State Board.
The application shall be filed with the Assessor of the Town on or
before the taxable status date of the Town.
If satisfied that the barn is entitled to an exemption pursuant to this section, the Assessor shall approve the application and such barn shall thereafter be exempt from taxation as herein provided commencing with the assessment roll prepared on the basis of the taxable status date referred to in § 125-18. 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.
As used in this article, the following terms
shall have the meanings indicated:
A structure that was at least partially constructed before
1936 and that was originally designed and used for storing farm equipment
or agricultural products, or for housing livestock.
The Board of Assessors of the Town.
