The purpose of this article is to provide for a real property
tax exemption from City of Auburn real property taxes as authorized
by § 485-a of the Real Property Tax law of the State of
New York relative to the conversion of qualified nonresidential real
property to mixed-use commercial and residential status in accordance
with the terms of state law and this article. This article shall be
read in conjunction with the provisions of § 485-a of the
Real Property Tax Law to effectuate the authorized real property tax
exemption.
As used in this article, the following terms shall have the
following meanings:
APPLICANT
Any person obligated to pay real property taxes on the property
for which an exemption from real property taxes under this article
is sought.
COMMERCIAL CONSTRUCTION WORK
The modernization, rehabilitation, expansion or other improvement
of the portion of mixed-use property to be used for commercial purposes.
COMMERCIAL PURPOSE OR USE
The buying, selling or otherwise providing of goods or services,
including hotel services, or other lawful business or commercial activities
permitted in mixed-use property.
MIXED-USE PROPERTY
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.
PERSON
An individual, corporation, limited liability company, partnership,
association, agency, trust, estate, foreign or domestic government
or subdivision thereof, or other entity.
RESIDENTIAL CONSTRUCTION WORK
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.
The City of Auburn, by this article, provides for the exemption
of real property from taxation as provided in this article. Upon the
adoption of this article, the County of Cayuga and the Auburn Enlarged
School District may, by resolution, exempt such property from its
taxation in the same manner and to the same extent as the City of
Auburn has done.
Upon the adoption of this article, nonresidential real property, upon conversion to mixed-use property, shall be exempt from taxation and special ad valorem levies as provided for in §
265-56 of this article.
Such exemption shall be granted only upon application by the
owner of such real property on a form prescribed by the State Board.
Such application shall be filed with the Assessor of the City of Auburn
having the power to assess property for taxation on or before the
appropriate taxable status date of the City of Auburn.
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 in this article provided, commencing with the assessment roll prepared after the taxable status date referred to in §
265-7 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.