[Adopted 8-19-1997 by L.L. No. 11-1997]
Pursuant to § 485-e of the Real Property
Tax Law, the Guilderland Town Board, as the governing body of the
Guilderland Town Tax District, hereby enacts this article providing
for exemptions from town and special ad valorem taxes for real property
constructed, altered, installed or improved in the area designated
as the "Albany Economic Development Zone," pursuant to Article 18-B
of the General Municipal Law.
As used in this article, the following terms
shall have the meanings indicated:
The extent of the increase in assessed value attributable
to such construction, alteration, installation or improvement as determined
in the initial year for which application for exemption is made.
Shall not include ordinary maintenance and repairs.
The amount of the exemption that shall be granted
under this article shall be as follows:
A.
For each of the first seven years from the date on
which the Economic Development Zone was designated, the amount of
such exemption shall be 100% of the base amount, determined as above.
B.
For exemptions commencing in the eighth year from
the date on which the Economic Development Zone was designated, the
amount of the exemption shall be 75% of the base amount.
C.
For exemptions commencing in the ninth year from the
date on which the Economic Development Zone was designated, the amount
of the exemption shall be 50% of the base amount.
D.
For exemptions commencing in the 10th year from the
date on which the Economic Development Zone was designated, the amount
of the exemption shall be 25% of the base amount.
A.
If there is a subsequent construction, alteration,
installation or improvement to the exempt property during the term
of the exemption, the base amount shall be revised to include the
increase in assessed value attributable to such construction, alteration,
installation or improvement.
B.
If a change in the level of assessment of 15% or more
is certified for an assessment roll pursuant to the rules of the State
Board of Real Property Services, the base amount shall be adjusted
by such change in the level of assessment. The exemption on that assessment
roll shall thereupon be recomputed, notwithstanding the fact that
the Assessor receives the certification 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 certified by the
Assessor on the roll.
Application for an exemption pursuant to this
article shall be made by the owner of such real property on a form
prescribed by the State Board of Real Property Services. The original
application shall be filed with the Assessor of the assessing unit
on or before the taxable status date of such construction, alteration,
installation or improvement.
If the Assessor receives the notice described in § 251-18A(1) of this article and an application by the owner of the real property, he shall approve the application and such real property shall thereafter be exempt from taxation as herein provided commencing with the assessment roll prepared after the taxable status date referred to in § 251-16 of this article. 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 entered in a separate column.
Exemptions granted pursuant to this article
shall be subject to the following limitations:
A.
No such exemption shall be granted unless pursuant
to Article 18-B of the General Municipal Law.
(1)
Notice of the designation of the Economic Development
Zone has been filed with the Clerk of the assessing unit by the Commissioner
on or before the applicable taxable status date;
(2)
The construction, alteration, installation or improvement
commenced on or after the date the Economic Development Zone was designated;
and
(3)
The designation of the Economic Development Zone has
not ended and has not been terminated by the Commissioner on or before
the applicable taxable status date.
B.
No such exemption shall be granted concurrent with
or subsequent to any other real property tax exemption granted to
the same improvements to real property, except where during the period
of such previous exemption, payments in lieu of taxes or other payments
were made to the local government in an amount that would have been
equal to or greater than the amount of real property taxes that would
have been equal to or greater than the amount of real property taxes
that would have been paid on such improvements had such property been
granted an exemption pursuant to this section. In such case, an exemption
shall be granted for a number of years equal to the ten-year exemption
granted pursuant to this section less the number of years the property
would have been previously exempt from real property taxes.
This article shall take effect immediately and
shall apply to assessment rolls prepared on the basis of taxable status
dates occurring on and after January 1, 1998.
