[Adopted 12-3-2009 by L.L. No. 7-2009]
This article shall be known as "Local Law No. 7 of 2009, Historic Preservation Assessment Freeze Provision."
Pursuant to Article 4 (Exemptions), § 444a (Historic Property), of the Real Property Tax Law, real property altered or rehabilitated subsequent to the effective date of this article shall be exempt from taxation and special ad valorem levies as herein provided.
This tax assessment provision intends to benefit both the owner and the community by:
A. 
Encouraging landmark protection through the promotion, recognition, and designation of historic structures.
B. 
Increasing the value of the rehabilitated property.
C. 
Upgrading neighborhoods and housing within a community.
A. 
A site or structure included within the Schedule of Designated Historic Districts, Buildings and Landmarks[1] which a property owner wishes to substantially rehabilitate will be eligible for a property tax assessment freeze. The assessment freeze will only apply to an increase in assessment. Any increase in value attributable to alteration or rehabilitation is exempt from taxation to the following degrees:
Year of Exemption
Percent of Exemption
1
100%
2
100%
3
100%
4
100%
5
100%
6
80%
7
60%
8
40%
9
20%
10
0%
[1]
Editor's Note: The Schedule of Designated Historic Districts, Buildings and Landmarks is on file in the Town offices.
B. 
No such exemption shall be granted for such alterations or rehabilitation unless:
(1) 
The property has been designated on the Town Schedule of Designated Historic Districts, Buildings and Landmarks or the State or National Registry of Historic Places.
(2) 
The alterations or rehabilitation is being made as a means of historic preservation. Rehabilitation shall include interior and exterior rehabilitation work that preserves the historic building in a manner that significantly improves its condition.
(3) 
Such alterations or rehabilitation of historic property meets the guidelines and review standards of the Historic Preservation Board. Qualified rehabilitation expenditures include any costs incurred by the property owner in the renovation, restoration or reconstruction of the historic building, excluding new construction outside the existing structure, enlargement and landscaping. Reconstruction of a missing historic feature (i.e., porch, cornice) can be a qualified rehabilitation expenditure, provided that the reconstruction is based upon historical or physical documentation.
(4) 
Such alterations or rehabilitation of historic property is approved by the local Preservation Commission prior to the commencement of work.
(5) 
The alterations or rehabilitation is completed subsequent to the effective date of this article.
A. 
Application shall consist of:
(1) 
A completed New York State 444a application form.
(2) 
The proposed rehabilitation plans and photographs of the building prior to initiating work.
B. 
Application process. The application will be submitted to the Director of Planning and forwarded to the Historic Preservation Board for review. An approval, approval with modifications, or disapproval shall be made by the Historic Preservation Board and returned to the Assessor and Planning Director within 60 days.
C. 
The Assessor will grant and administer all exemptions. Such exemption shall be granted when the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article. The Assessor shall approve such application, and such property shall thereafter be exempt from taxation and special ad valorem levies as herein provided.
When the project is completed, photographs and written documentation showing the completed work must be provided to the Town Planning Director and Historic Preservation Board. This final documentation should be submitted as soon as work is completed.