[HISTORY: Adopted by the Town Board of the Town of Poughkeepsie 10-24-2012 by L.L. No. 22-2012; amended in its entirety 4-6-2016 by L.L. No. 9-2016. Subsequent amendments noted where applicable.]
GENERAL REFERENCESAttachment 1 - Qualified Geographic Areas Attachment 2 - NAICS Listed Commercial, Business or Industrial Uses
Business improvement districts — See Ch. 73.
The Town Board of the Town of Poughkeepsie hereby determines that in order to create or retain permanent private-sector jobs, to provide employment opportunities and broaden the tax base, it is necessary to adopt an accelerated exemption schedule in order to encourage targeted economic development in the Town of Poughkeepsie to the extent provided in § 485-b of the Real Property Tax Law of the State of New York, and as hereinafter provided.
A redevelopment or rehabilitation of real property within a qualified geographic area subsequent to the effective date of this chapter for the purpose of a listed commercial, business, or industrial use shall be eligible for partial exemption from taxation and special ad valorem levies for the increase in assessed value attributable thereto in accordance with this chapter. For purposes of this chapter the terms "construction," "alteration," "installation," and "improvement" shall not include ordinary maintenance and repairs.
Except where specifically defined herein, all words used in this chapter shall carry their customary meanings.
Unless the context requires a different interpretation, any word denoting gender includes the female and the male.
Words used in the present tense include the future tense.
Words used in the singular include the plural, and words used in the plural include the singular, unless the context clearly indicates the contrary.
The word "shall" is always mandatory and not merely directory.
The word "structure" shall include the word "building" and any man-made object or improvement.
The term "Zoning District" shall mean one of the zoning districts as shown on the officially adopted Zoning Map of the Town of Poughkeepsie, as amended.
The term "Zoning Map," shall mean the "Zoning Map of the Town of Poughkeepsie, New York", as amended.
The term "Town Assessor" or "Assessor" shall mean the duly appointed Assessor of the Town of Poughkeepsie, New York.
The term "Town Board" shall mean the Town Board of the Town of Poughkeepsie, New York.
When used in this chapter, unless otherwise expressly stated or unless the context or subject matter otherwise requires, the following definitions shall apply.
- A permanent addition to or betterment of real property that enhances its capital value and that involves the expenditure of labor or money and is designed to make the property more useful or valuable as distinguished from ordinary repairs, and shall include structures placed above and below ground.
- LISTED COMMERCIAL, BUSINESS, OR INDUSTRIAL USE
- A use that appears on the "List of Exempt Businesses" in Schedule B of this chapter as classified according to the North American Industry Classification System (NAICS), and which is a use that is permitted in the zoning district in which the real property is located as depicted on the Zoning Map, as amended.
- QUALIFIED GEOGRAPHIC AREAS
- Real property that is located in an area that is identified in Schedule A of this chapter.
- REAL PROPERTY
- All lands, including improvements and fixtures thereon, and property of any nature appurtenant thereto or used in connection therewith, and every estate, interest and right, legal or equitable, therein, including terms for years and lines by way of judgment, mortgage or otherwise, and indebtedness secured by such lines.
- REDEVELOPMENT; REDEVELOPMENT PROJECT
- Construction, reconstruction, conversion, alteration, relocation, enlargement, or repair of buildings, structures, and site infrastructure on real property that is or was previously developed for the same, similar, or a different use or purpose, and shall include work involving the conservation, preservation, and rehabilitation of any building, structure or improvement. This shall include properties classified by the Town Assessor as "vacant commercial," provided said property was improved for a prior use, or was improved in anticipation of a prior use as set forth herein.
- REHABILITATION; REHABILITATION PROJECT
- An undertaking, by means of extensive repair, reconstruction or renovation of existing structures, with or without the introduction of new construction or the enlargement of existing structures, in order to eliminate substandard structural conditions and halt or prevent the deterioration of any building, structure or improvement.
In any year in which a change in level of assessment of 15% or more is certified for a final assessment roll pursuant to the rules of the New York State Board of Real Property Services, the exemption base shall be multiplied by a fraction, the numerator of which shall be the total assessed value of the parcel on such final assessment roll (after accounting for any physical or quantity changes to the parcel since the immediately preceding assessment roll) and the denominator of which shall be the total assessed value of the parcel on the immediately preceding final assessment roll. The result shall be the new exemption base. The exemption shall thereupon be recomputed to take into account the new exemption base, notwithstanding the fact that the Assessor receives the certification of the change in level of assessment after the completion, verification and filing of the final assessment roll. In the event that the Assessor does not have custody of the roll when such certification is received, the Assessor shall certify the recomputed exemption to the local officers having custody and control of the roll, and such local officers are hereby directed and authorized to enter the recomputed exemption certified by the Assessor on the roll. The Assessor shall give written notice of such recomputed exemption to the property owner, who may, if he or she believes that the exemption was recomputed incorrectly, apply for a correction in the manner provided by Title 3 of Article 5 of the New York State Real Property Tax Law for the correction of clerical errors.
The following table shall illustrate the computation of the tax exemption, if any:
No exemption pursuant to this chapter shall be granted unless:
The construction, alteration, installation or improvement was commenced subsequent to the effective date of this chapter; and
The cost of construction, alteration, installation or improvement exceeds the sum of $50,000; and
The construction, alteration, installation or improvement is completed, as may be evidenced by a certificate of occupancy or other appropriate documentation as provided by the owner.
No exemption shall be granted concurrent with or subsequent to any other real property tax exemption granted to the same improvements to real property except where, during the period of such previous exemption, payments in lieu of taxes or other payments were made to the local government in an amount that would have been paid on such improvements had such property been granted an exemption pursuant to this chapter. In such case, an exemption shall be granted for a number of years equal to the ten-year exemption granted pursuant to this chapter less the number of years the property would have been previously exempt from real property taxes.
Such exemption shall be granted only upon application by the owner of such real property on a form prescribed by the Town Assessor. Such application shall be filed with the Assessor on or before the appropriate taxable status date of the Town and within one year from the date of completion of such construction, alteration, installation or improvement. For purposes of this section, the date of completion shall be the date on which a final certificate of occupancy is issued by the Town.
If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this chapter, she shall approve the application and such real property shall thereafter be exempt from taxation and special ad valorem levies as herein provided, commencing with the assessment roll prepared after the taxable status date of March 1 of each year. 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 exemption shown in a separate column.
This chapter shall not apply to property used primarily for the furnishing of dwelling space or accommodations to either residents or transients, other than hotels or motels.
In the event that real property granted an exemption pursuant to this chapter ceases to be used primarily for eligible purposes, the exemption granted pursuant to this chapter shall cease.
This chapter shall take effect immediately upon its filing with the office of the Secretary of State of the State of New York and the State Board of Real Property Services.