[Adopted 3-1-2012 by L.L. No. 2-2012]
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 Lima Real Property Tax Exemptions for Improvements
to Commercial or Residential Real Property Law."
A.
It has been determined by the Town Board of the Town of Lima 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.
B.
This article authorizes the granting of partial real property tax
exemptions for the value of the qualifying property improvements undertaken
and completed within the benefit area designated herein. A similar
local law has been adopted by the Village Board of Trustees of the
Village of Lima on the 14th day of February 2012, said local law being
substantially identical hereto. It is contemplated that the local
school board and County Board of Supervisors shall each promulgate
substantially identical real property tax exemptions to apply to qualifying
improvements within the benefit area situated in the Village of Lima.
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 of Lima, 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 board appointed by the Town Board and acting as prescribed by § 230-19 of this article.
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.
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 Commercial/Mixed-Use Incentive
Board ("CMUIB") which shall be constituted and have the duties as
hereinafter provided.
A.
The CMUIB shall consist of five members appointed by the Town Board
for the terms as set by the Town Board of the Town of Lima. Initially,
said members shall be the members of the Town Board and the Town Supervisor,
but the Town Board may thereafter designate a different membership
composition if it so chooses.
B.
The CMUIB shall present a plan to the Town Board concerning the various
types of commercial and/or mixed-use properties which may be granted
an exemption pursuant to this article. Said plan shall:
(1)
Identify the sole designated benefit area, which shall be the area described in § 230-20 of this article;
(2)
Consider the planning objectives of the Town of Lima;
(3)
Determine the necessity of the exemption for the attraction of commercial
and mixed-use development as identified by the Town of Lima;
(4)
Determine the economic benefit of providing exemptions to commercial
and mixed-use properties to the benefit area.
The identification of the benefit area was subject to public
input and was approved by and received funding for economic development
purposes from a state agency. The designated benefit area to which
this article shall apply and benefit is the area situate in the Village
of Lima comprising its business district, being the area designated
in the year 2012 as the Downtown Business Use District of the Village
of Lima, and being generally described as the commercial or business
district of the Village of Lima centered upon the intersection of
Main Street and Rochester Street (to the north of Main Street) and
Lake Avenue (to the south of Main Street). This benefit area is the
same area that has been identified by the Lima Village Board of Trustees
as its benefit area for purposes of its corresponding local law. The
benefit area is further identified as that area identified in the
design guideline information booklet prepared and accepted in the
administration of the Main Street improvement grant funding structured
improvement projects in the benefit area in the year 2012. No other
area is presently contemplated to be included or to qualify for treatment
under this legislation.
A.
Duration and calculation.
(1)
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 A(2) of this section. Such exemption shall be computed with respect to the exemption base. The exemption base shall be determined for each year in which there is an increase in assessed value so attributable from that of the previous year's assessed value.
(2)
The tax exemption shall be computed as follows:
|
Year of Exemption
|
Percentage of Exemption Base Exempt from Tax
|
|---|---|
|
1 through 8
|
100%
|
|
9
|
80%
|
|
10
|
60%
|
|
11
|
40%
|
|
12
|
20%
|
B.
No such exemption shall be granted unless:
(1)
Such conversion, creation, modernization, rehabilitation, expansion
or other improvement was commenced subsequent to the date of the effective
date of this article; and
(2)
The cost of such conversion, creation, modernization, rehabilitation,
expansion or other improvement exceeds the sum of $10,000 or such
greater amount as may be specified by local law.
C.
For purposes of this section, the term "conversion, creation, modernization,
rehabilitation, expansion or other improvement" shall not include
ordinary maintenance and repairs.
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, where during the period of a previous
exemption, payments in lieu of taxes or other payments were made to
the Town of Lima 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 provided 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, he or she 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.
