[Adopted 4-28-1977 by L.L. No. 6-1977 ; amended in its entirety 11-16-1995 by L.L. No. 4-1995]
The village shall carry out the intent and purpose
of Article 4-A of the Commerce Law and § 485 of the Real
Property Tax Law[1] to grant to qualified business facility owners or operators
exemption from real estate taxes and special ad valorem taxes to the
extent provided in the aforementioned New York State laws.
[1]
Editor's Note: Article 4-A of the Commerce
Law was repealed by L. 1983, c. 15, § 57, effective April
1, 1983. Section 485 of the Real Property Tax Law was repealed by
L. 1988, c. 165, § 5, effective June 27, 1988; for current
provisions see Real Property Tax Law § 485-b.
A.
This tax exemption shall be granted to such qualified
business facility owners or operators who, prior to the status date,
file with the village an application therefor on a form prescribed
by the village, together with a certificate of eligibility issued
by the New York State Job Incentive Board created by § 116
of the Commerce Law.[1]
[1]
Editor's Note: Section 116 of the Commerce
Law was repealed by L. 1983, c. 15, § 57, effective April
1, 1983.
B.
Upon submission of the aforesaid application and the
certificates, the village shall consider the application for exemption
or tax credit and, if found to be in order, determine the assessed
value of said property in accordance with the certificate of eligibility
and enter such value on the exempt portion of the assessment roll.
The village shall grant a one-hundred-percent
tax credit or exemption, and said exemption shall continue from year
to year for a maximum of ten (10) years for each eligible facility,
unless eligibility is revoked or modified by the New York State Job
Incentive Board.
