Residential real property constructed on or after the first
day of July, 2006, in the City of Amsterdam may be exempt from city
taxation and special ad valorem levies as provided in this article.
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 City of Amsterdam
on or before the appropriate taxable status date of such City and
within one year from the date of completion of such construction.
If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article, he or she shall approve the application, and such real property shall thereafter be exempt from taxation and special ad valorem levies by the City of Amsterdam as provided in this article, commencing with the assessment roll prepared after the taxable status date referred to in §
214-88 of this article. The assessed value of any exemption wanted pursuant to this article 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.
The provisions of this article shall apply to real property
used as the primary residence of the owner.
In the event that real property granted an exemption pursuant
to this article ceases to be used primarily for eligible purposes,
the exemption granted pursuant to this article shall cease.
Information relating to the availability of this exemption,
including requirements and application procedures, shall be attached
to all building permit applications, and copies of such information
shall be posted in a conspicuous location in any office or offices
where such permits and applications for permits are issued and processed.
Any exemption granted pursuant to § 485-j of the Real
Property Tax Law that was granted prior to the enactment of this article
is hereby approved nunc pro tunc.