[Adopted 10-18-1982 by L.L. No. 3-1982]
The purpose of this article is to grant incentive
for the expansion of existing businesses in the Village of Coxsackie
and the location of new businesses in said Village by granting tax
exemptions to said businesses for periods as specified herein.
The Board of Assessors shall have the power
and be charged with the duty to carry out the purpose and intent of
Article 4-A of the Commerce Law, § 485 of the Real Property
Tax Law and the other applicable laws of the state to grant to business
facility owners or operators exemption from taxes and special ad valorem
levies to the extent provided in the aforesaid mentioned New York
State laws.
A.
This tax exemption shall be granted to business facility
owners or operators who, prior to the status date, file with the Board
of Assessors an application on a form prescribed by the Board, together
with a certificate of eligibility issued by the New York State Job
Incentive Board created by § 116 of the Commerce Law.
B.
Upon submission of the aforesaid application and the
certificates, the Board of Assessors 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.
C.
The Board of Assessors shall grant a tax credit or
exemption of 100% and said exemption shall continue from year to year
for a maximum of 10 years for each eligible facility, unless eligibility
is revoked or modified by the New York State Job Incentive Board.
