[Adopted 11-16-1978 by L.L. No. 7-1978]
[Amended 9-1-1994 by L.L. No. 1-1994]
A.
Extent. Pursuant to former § 485 of the
Real Property Tax Law[1] of the State of New York, eligible business facilities,
as defined in former § 115 of the former Commerce Law[2] of the State of New York, which are located within the
Town of Walworth shall be exempt from taxes and special ad valorem
levies imposed by or on behalf of the Town of Walworth for Town and
special district purposes in accordance with the following schedule
for exemption:
|
Year of Exemption
|
Percentage of Exemption
| |
|---|---|---|
|
1
|
90
| |
|
2
|
80
| |
|
3
|
70
| |
|
4
|
60
| |
|
5
|
50
| |
|
6
|
40
| |
|
7
|
30
| |
|
8
|
20
| |
|
9
|
10
|
B.
Application required. Such exemption shall be granted
only upon an application by the owner or operator of such facility
on a form prescribed by the New York State Job Incentive Board, to
which there shall be attached a copy of a certificate of eligibility
issued by the aforesaid Job Incentive Board, and the exemption shall
be continued from year to year during such period only if the certificate
or eligibility with respect to such business facility is not revoked
or modified and is renewed or extended as provided in former § 120
of the former Commerce Law[3] of the State of New York.
[3]
Editor's Note: See now the Economic Development Law.
If an exemption has once been granted for a
business facility under this article and the Assessor receives notice
that a certificate of eligibility of such facility has been revoked
or modified, he shall redetermine the assessed value of any such exemption
in accordance with such revocation or modification. If upon such redetermination
it appears for a year for which an exemption has been granted that
such facility has been ineligible or that the assessed value of such
exemption as redetermined is less than the assessed value of such
exemption as shown on the assessment rolls for such year, then a tax
shall be levied at the rate of tax for such year upon so much of the
assessed valuation of such exemption, as shown on such assessment
rolls, as may be ineligible or excessive. Such tax shall be levied
as an omitted assessment in the manner provided in § 550
of the Real Property Tax Law.
