[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Editor's Note: Article 4-A of the Commerce Law was repealed by L. 1983, c. 15, § 57, effective April 1, 1983. Section 485 of the Real Property Tax Law was repealed by L. 1988, c. 165, § 5, effective June 27, 1988; for current provisions see Real Property Tax Law § 485-b.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Editor's Note: Section 116 of the Commerce Law was repealed by L. 1983, c. 15, § 57, effective April 1, 1983.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.