[Adopted 11-15-1999 by L.L. No. 8-1999]
A.
This real property tax exemption for historic properties is being
enacted in order to achieve the following goals: to increase incentives
for property owners in historic districts to invest in the upkeep
and rehabilitation of properties; to provide an incentive for the
restoration and rehabilitation of commercial structures which qualify
as landmarks in order to provide financial advantages, which may help
to attract and retain businesses in the Town of Amherst; to assist
homeowners who are interested in restoring their own properties but
may not be able to afford to do so when faced with potential increases
in taxation as the result of alterations which would qualify for this
exemption; to provide financial incentives for investment in low-income
residential neighborhoods which may contain landmarked buildings or
districts designated within the area; and to provide a concrete benefit
for restoring or improving historically or architecturally significant
properties which are subject to the regulations of the Historic Preservation
Law of the Town of Amherst.
B.
This real property tax exemption is intended to apply to alterations
or rehabilitations of historic property as authorized pursuant to
§§ 96-a and 119-aa through 119-dd of the General Municipal
Law and § 444-a of the Real Property Tax Law and all other
powers granted to the Town of Amherst to provide such exemptions.
C.
This article is intended to create a real property tax exemption
that preserves or increases the historic character of real property
located within the Town of Amherst.
Real property within the Town of Amherst altered or rehabilitated subsequent to the effective date of this article shall be exempt from Town real property and special ad valorem levies, subject to and in accordance with the schedule set forth in § 175-31 and conditions outlined in §§ 175-32 and 175-33.
Historic property which shall be defined hereafter shall be
exempt from taxation to the extent of any increase in value attributable
to such alteration or rehabilitation pursuant to the following schedule:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
100%
|
|
2
|
100%
|
|
3
|
100%
|
|
4
|
100%
|
|
5
|
100%
|
|
6
|
80%
|
|
7
|
60%
|
|
8
|
40%
|
|
9
|
20%
|
|
10
|
0%
|
No such exemption shall be granted for such alterations or rehabilitation
unless all of the following criteria are met:
A.
Such property must be historic, which shall mean that the property
has been designated as a landmark or is a property that is located
in and contributes to the character of a designated historic district,
created by a local law which was passed pursuant to § 96-a
or 119-dd of the General Municipal Law.
B.
Alteration or rehabilitation of exteriors and public interiors (to
the extent that public interiors are regulated by the local preservation
law[1]) of historic property must meet guidelines and review
standards established in the local preservation law.
C.
Alterations or rehabilitation of historic property must meet guidelines and review standards as set forth in Chapter 121 of this Code, the Historic Preservation Law of the Town of Amherst.
D.
Alterations and rehabilitation of exteriors of historic property
are approved by the Town of Amherst Historic Preservation Commission
prior to commencement of work.
E.
Alterations or rehabilitation must be commenced subsequent to the
effective date of this article.
This exemption shall be granted only by application of the owner
or owners of such historic real property on a form prescribed by the
State Board of Real Property Tax Services. The application shall be
filed with the Town Assessor of the Town of Amherst, on or before
the appropriate taxable status date covering Town real property.
Such exemptions shall be granted where the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this section. The Assessor shall approve such application, and such property shall thereafter be exempt from taxation and special ad valorem levies for Town real property taxation as provided in the schedule established in § 175-31 of this article commencing with the assessment roll prepared on the basis of the taxable status date referred to in § 175-33 of this article. 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 exemptions shown in a separate column.
This article shall take effect immediately and shall apply to
assessment rolls completed on or after such effective date.
