It is the intent of this article to grant historic property
exemption from taxation to the extent authorized by Real Property
Tax Law § 444-a.
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. A copy of this article shall be
filed with the State Board and the Assessor who prepares the assessment
roll on which the taxes of the Village of Bath are levied.
Such 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. The application shall be filed with the Assessor having
power to assess property for taxation on or before the appropriate
taxable status date of the Village of Bath.
Such exemption shall be granted where 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, commencing with the assessment roll prepared on the basis of the taxable status date referred to in §
103-33 of this article. The assessed value of any exemption granted 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.