[Adopted 3-20-2007 by L.L. No. 1-2007[1]]
[1]
1 Editor’s Note: This local law also
repealed former Art. III, Business Investment Exemption, adopted 7-18-1977
by L.L. No. 10-1977 (Division 2 of Subpart N of Part I of
A.
The Town of Union has established and appointed an
Industrial and Commercial Incentive Board ("ICIB") that includes Village
residents and the ICIB has recommended a plan to the Town Board of
the Town of Union concerning the various types of business real property
which should be granted eligibility for an exemption pursuant to § 485-b(9)(b)
of the Real Property Tax Law ("RPTL") ("Plan"). The Town of Union
has accepted the Plan and approved implementation of a local law regarding
the same.
B.
The Village Board of the Village of Johnson City has
reviewed the Plan proposed by the ICIB to implement a targeted business
investment exemption and determined that the Plan is the product of
the research and study conducted by the ICIB. In addition, the Plan
has been reviewed by the Johnson City Planning Department and it is
determined that the plan takes into consideration the planning objectives
of the Village of Johnson City within the proposed geographic area,
the necessity of the exemption to the attraction of retention of such
businesses and the economic benefit to the area of providing the targeted
business investment exemption.
C.
Section 485-b of the RPTL further provides that the
Village Board may, after the presentation of the findings of the ICIB,
adopt by local law a restricted real property tax exemption targeted,
among other criteria, to specific geographic areas identified in the
Plan presented by the ICIB.
D.
The Village Board finds that the implementation of
a targeted business investment exemption will encourage private investment,
thereby benefiting all of the residents of the Village of Johnson
City by the creation of and retention of private sector jobs. The
Village Board further finds that the exemptions are necessary to encourage
targeted economic development and the value of the exemptions is justified
by the need to provide employment opportunities and broaden the tax
base. The targeted business investment exemptions will particularly
aid in the revitalization or maintenance of certain identified commercial
areas in the Village of Johnson City.
E.
Accordingly, the Village Board of the Village of Johnson
City has determined that it is in the best interest of the Village
to implement a targeted business investment exemption and the Village
Board hereby enacts the following article pursuant to the authority
provided under Real Property Tax Law § 485-b for certain
real property constructed, altered, installed or improved subsequent
to the enactment of this article for commercial, business or industrial
activity.
A.
Certain real property constructed, altered, installed or improved subsequent to the effective date of this article for the purpose of commercial, business or industrial activity and which is contained within the geographic areas of the Village set forth in § 250-19 shall be exempt from taxation and special ad valorem levies, except for special ad valorem levies for fire district, fire protection district and fire alarm district purposes, to the extent hereinafter provided.
B.
Computation; exceptions; applicability.
(1)
Computation of exemption.
(a)
Such real property located within the geographic area(s) set forth in § 250-19 of this article 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, and such exemption shall be computed with respect to the exemption base. The "exemption base" shall be the increase in assessed value as determined in the initial year of such ten-year period following the filing of an original application, except as provided in Subsection B(1)(b) of this section.
(b)
In any year in which a change in level of assessment
of 15% or more is certified for a final assessment roll pursuant to
the rules of the state board, the exemption base shall be multiplied
by a fraction, the numerator of which shall be the total assessed
value of the parcel on such final assessment roll (after accounting
for any physical or quantity changes to the parcel since the immediately
preceding assessment roll) and the denominator of which shall be the
total assessed value of the parcel on the immediately preceding final
assessment roll. The result shall be the new exemption base. The exemption
shall thereupon be recomputed to take into account the new exemption
base, notwithstanding the fact that the Assessor receives the certification
of the change in level of assessment 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 to the local officers
having custody and control of the roll, and such local officers are
hereby directed and authorized to enter the recomputed exemption certified
by the Assessor on the roll. The assessor shall give written notice
of such recomputed exemption to the property owner, who may, if he
or she believes that the exemption was recomputed incorrectly, apply
for a correction in the manner provided by Title 3 of Article 5 of
the New York State Real Property Tax Law for the correction of clerical
errors.
(c)
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%
|
(2)
No such exemption shall be granted unless:
(a)
Such construction, alteration, installation
or improvement was commenced subsequent to the adoption of this article.
(b)
The cost of such construction, alteration, installation
or improvement exceeds the sum of $50,000.
(c)
Such construction, alteration, installation
or improvement is completed as may be evidenced by a certificate of
occupancy or other appropriate documentation as provided by the owner.
(3)
For purposes of this section, the terms "construction,"
"alteration," "installation" and "improvement" shall not include ordinary
maintenance and repairs.
(4)
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
paid on such improvements had such property been granted an exemption
pursuant to this article. 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.
C.
Such exemption shall be granted only upon application
by the owner of such real property on a form prescribed by the state
board. Such application shall be filed with the Assessor of the Village
having the power to assess property for taxation on or before the
appropriate taxable status date of the village, town or county and
within one year from the date of completion of such construction,
alteration, installation or improvement.
D.
If the Assessor is satisfied that the applicant is
entitled to an exemption pursuant to this section, he or she shall
approve the application and such real property shall thereafter be
exempt from taxation and special ad valorem levies, except for special
ad valorem levies for fire district, fire protection district and
fire alarm district purposes, as herein provided, commencing with
the assessment roll prepared after the taxable status date of March
1 of each year. 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 shown
in a separate column.
E.
The provisions of this section shall apply to real
property used primarily for the buying, selling, storing or developing
goods or services, the manufacture or assembly of goods or the processing
of raw materials. This section 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.
F.
In the event that real property granted an exemption
pursuant to this section ceases to be used primarily for eligible
purposes, the exemption granted pursuant to this section shall cease.
A.
Targeted Business Investment Exemption Area No. 1
shall be that area bounded by the east from the intersection of Harry
L. Drive and Airport Road, to the west to the Village Boundary along
Harry L. Drive, to the south from the New York State right-of-way
on the north side of NYS Route 17, and to the north to a point 100
yards north of Harry L. Drive, and for Reynolds Road only to the north
to a point 100 yards north of Fairview Avenue.
B.
Targeted
Business Investment Exemption Area No. 2 shall be that area bounded
as follows:
[Added 8-16-2011 by L.L. No. 8-2011]
(1)
To
the east: from a point where Main Street meets the City of Binghamton
Boundary;
(2)
To
the west: to the intersection of N. Arch Street and Main Street;
(3)
To
the south: frontage on south side of Main Street; and
(4)
To
the north: frontage on north side of Main Street, and from the east
side of N. Arch Street to the west side of Lester Avenue – all
tax map parcels located south of the railroad tracks.
