This article shall be known as "Local Law No. 2 of 2007 for
Historic Preservation Tax Exemption for the Town of Schroeppel."
Real property within the Town of Schroeppel 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 §
83-14 and conditions outlined in §§
83-15 and
83-16.
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-aa through 119-dd of the General Municipal Law; and
B. Alteration or rehabilitation of exteriors and public interiors (to
the extent that public interiors are regulated by the local preservation
law) of historic property must meet guidelines and review standards
established in Local Law No. 1 of 1996 as amended by Local Law No.
5 of 1997, known as the "Historic Preservation Law"; and
C. Alterations and rehabilitation of exteriors and public interiors
(to the extent that public interiors are regulated by the Historic
Preservation Law) of historic property are approved by the Town's
Landmark Board prior to commencement of work; and
D. Alteration or rehabilitation must be for the purpose of historic
preservation. For purposes of qualifying for a real property tax exemption
pursuant to this article, alterations and rehabilitation shall be
deemed to be for the purpose of historic preservation if:
(1) Only exterior work is involved; or
(2) Interior work involves the portion of the building that has been
designated as a public interior under the local preservation law,
to the extent that public interiors are regulated under the local
preservation law; or
(3) At least 20% of the total cost of the project is directly attributable
to exterior work and/or work that enhances the structural stability
or structural integrity of the property; provided, however, that such
portion of interior work done for the purpose of converting property
from a one- or two-family dwelling to a multiple dwelling as defined
in the Town Code of the Town of Schroeppel, and any increase in value
resulting from such conversion, shall not quality for the exemption;
or
(4) The project returns to use a building which has not been used for
a permissible purpose under applicable zoning ordinances for a continuous period of at least two years; and
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 Equalization and Assessment Board. The application shall be
filed with the Town Assessor, 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 §
83-14 of this article commencing with the assessment roll prepared on the basis of the taxable status date referred to in §
83-16 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.