[Adopted 4-26-2012 by L.L. No. 3-2012]
This article is enacted pursuant to the authority conferred
by New York State Real Property Tax Law § 485-n and shall
be called the "Town of Geneseo Real Property Tax Exemptions for Improvements
to Commercial or Residential Real Property."
It has been determined by the Town Council that it is in the
best interest of the public health, safety, and welfare to encourage
the investment in improvements in commercial or residential real properties.
It will serve the public interest to allow for certain qualified real
property tax exemptions in order to encourage investment in such improvements.
As used in this article, the following terms shall have the
following meanings:
Any person obligated to pay real property taxes on real property
for which an exemption from taxes under this section is sought.
The area within the Town to which an exemption applies pursuant
to this article.
The modernization, rehabilitation, expansion or other improvement
of commercial use property or the portion of mixed-use property to
be used for commercial purposes.
The buying, selling, or otherwise providing of goods or services,
including hotel services, or other lawful business or commercial activities
permitted upon mixed-use property.
Real property on which will exist, after completion of commercial
construction work, a building used for commercial purposes or use.
The Board appointed by the Town Council and acting as prescribed by § 96-16 of this article.
The amount determined for each year in which there is an
increase in assessed value so attributable from that of the previous
year's assessed value.
Real property on which will exist, after completion of residential
construction work or a combination of residential construction work
and commercial construction work, a building or structure used for
both residential and commercial purposes.
The creation, modernization, rehabilitation, expansion, or
other improvement of dwelling units, other than dwelling units in
a hotel, in the portion of mixed-use property to be used for residential
purposes.
There is hereby established the authority of the Town Council to appoint a Commercial/Mixed-Use Incentive Board ("CMUIB"). If during the effective period of this article there shall not be in existence a previously designated business district, as defined at §§ 96-17 and 96-18 hereof, the CMUIB shall be constituted and have the duties as hereinafter provided.
A.
The CMUIB shall consist of three members appointed by the Town Council
for the terms as set by the Town Council.
B.
The CMUIB shall present a plan to the Town Council concerning the
various types of commercial and/or mixed-use properties that may be
granted an exemption pursuant to this article. Said plan shall:
(1)
Identify designated benefit areas;
(2)
Consider the planning objectives of the Town;
(3)
Determine the necessity of the exemption for the attraction of commercial
and mixed-use development as identified by the Town; and
(4)
Determine the economic benefit of providing exemptions to commercial
and mixed-use properties to the benefit area.
In instances when the Town has previously designated a business
district encompassing a defined area that was subject to public input
and was approved by, and received funding for economic development
purposes from, a state agency, the Town may utilize the defined boundaries
of such previously defined area, or a combination of such boundaries
with properties subject to review by the CMUIB to determine the benefit
area.
As of the effective date of this article there is in existence a previously designated business district (the "District") which satisfies the criteria of § 96-17 hereof. The tax parcels situated within the District are entitled to apply for the real property tax exemptions authorized by this article, provided that the Town Assessor has determined that the requirements of §§ 96-19A and B and 96-20 hereof have been satisfied. The District consists of the area within which the tax parcels listed and depicted on Schedule A hereof are located in the Village of Geneseo. Schedule A is hereby made a part of this article as if fully set forth herein.[1]
[1]
Editor's Note: Schedule A is on file in the Town offices.
A.
For a period of 12 years following the approval of an application as hereinafter provided, the increase in assessed value of such property attributable to a conversion, creation, modernization, rehabilitation, expansion or other improvement shall be exempt as provided in Subsection B of this section. Such exemption shall be computed with respect to the exemption base.
B.
The tax exemption shall be computed as follows:
|
Year(s) of Exemption
|
Percentage of Exemption
|
|---|---|
|
1 through 8
|
100% of exemption base
|
|
9
|
80% of exemption base
|
|
10
|
60% of exemption base
|
|
11
|
40% of exemption base
|
|
12
|
20% of exemption base
|
C.
No such exemption shall be granted unless:
D.
No such exemption shall be granted concurrent with, or subsequent
to, any other real property tax exemption granted to the same improvements
to the real property, except, when during the period of a previous
exemption, payments in lieu of taxes or other payments were made to
the Town in an amount that would have been equal to, or greater than,
the amount of real property taxes that would have been paid on such
improvements had such property been granted an exemption pursuant
to this section. In such case, an exemption shall be granted for a
number of years equal to the twelve-year exemption granted pursuant
to this section less the number of years the property would have been
previously exempt from real property taxes.
A.
The exemption proved for herein shall be granted only upon application
by the owner of real property on a form prescribed by the Commissioner
of the New York State Department of Taxation and Finance. Such application
shall be filed with the Town Assessor on, or before, the appropriate
taxable status date of the Town.
B.
If the Assessor is satisfied that the applicant is entitled to an
exemption pursuant to this article, the Assessor shall approve the
application and such real property shall thereafter be exempt from
taxation and special ad valorem levies, as provided herein, commencing
with the assessment roll prepared after the taxable status date occurring
after the granting of the application.
C.
The assessed value of any exemption granted hereunder 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.
