Village of Phoenix, NY Chapter 178 Taxation: Business Investment Exemption

[HISTORY: Adopted by the Board of Trustees of the Village of Phoenix 3-7-2006 by L.L. No. 1-2006. Amendments noted where applicable.]

GENERAL REFERENCES

Fire prevention and building construction — See Ch. 98.

Taxation — See Ch. 177.

§ 178-1 Purpose.

Pursuant to the provisions of § 485-b of the Real Property Tax Law of the State of New York, the Village of Phoenix Board of Trustees is authorized to adopt a partial real property tax exemption for certain commercial, business and industrial improvements in the Village. This chapter shall allow real property constructed, altered, installed or improved for the purpose of commercial, business or industrial activity to be exempt from taxation, special ad valorem levies and service charges pursuant to Real Property Tax Law § 485-b to the extent hereinafter provided.

§ 178-2 Computation of exemption.

Such real property shall be exempt for a period of one year to the extent of 50% of the increase in assessed value thereof attributable to such construction, alteration, installation, or improvement and for an additional period of nine years; provided, however, that the extent of such exemption shall be decreased by 5% each year during such additional period of nine years. The following table shall illustrate the computation of the tax exemption:

Year of Exemption	Percentage of Exemption
1	50%
2	45%
3	40%
4	35%
5	30%
6	25%
7	20%
8	15%
9	10%
10	5%

§ 178-3 Qualification for exemption.

A. No such exemption shall be granted unless such construction, alteration, installation or improvement exceeds the sum of $ 10,000.

B. For the purposes of this chapter, the terms "construction," "alteration," "installation" and "improvement" shall not include ordinary maintenance and repairs.

§ 178-4 Application.

Such exemption shall be granted only upon application by the owner of such real property on a form prescribed by the State Board. The original of such application shall be filed with the Assessor of the Village of Phoenix, or, if none, the Town of Schroeppel, on or before the appropriate taxable status date. A copy thereof shall be filed with the State Board.

§ 178-5 Approval of application.

If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this chapter, he or she shall approve the application, and such real property shall thereafter be exempt from taxation, special ad valorem levies, and service charges as herein provided, commencing with the assessment roll prepared after the taxable status date referred to in § 178-4. The assessed value of any exemption granted pursuant to this chapter shall be entered by the Assessor on the portion of the assessment roll provided for property exempt from taxation.

§ 178-6 Eligible properties.

The provisions of this chapter shall apply to all real property within the Village of Phoenix used primarily for the buying, selling, storing, or developing of goods or services, the manufacture or assembly of goods, or the processing of raw materials. This chapter shall not apply to property used primarily for the furnishing of dwelling space or accommodations to either residents or transients other than hotels or motels.

§ 178-7 Change of use of exempt property.

In the event that real property granted an exemption pursuant to this chapter ceases to be used primarily for eligible purposes, the exemption granted pursuant to this chapter shall cease.