Unless otherwise expressly stated, the following terms shall,
for the purpose of this article, have the meanings as herein defined.
Any word or term not noted below shall be used with a meaning as defined
in Webster's Third New International Dictionary of the English Language,
unabridged (or latest edition).
IMPACTED TAX ROLL
The final assessment roll which satisfies both of the following
conditions. The roll is based upon:
A.
A taxable status date occurring prior to October 28, 2012; and
B.
Taxes levied upon that roll were payable without interest on
or after October 28, 2012.
IMPROVED VALUE
The market value of real property improvements excluding
the land.
PROPERTY
Real property, property or land as defined under paragraphs
(a) through (g) of subdivision 12 of New York Real Property Law.
RELIEF ACT
The Superstorm Sandy Assessment Relief Act as enacted by
New York State Legislature, Chapter 424 of 2013 Laws of the State
of New York.
SUPERSTORM SANDY
The storms, rains, winds or floods which occurred within
the State of New York and the County of Suffolk during the period
October 29, 2012 and ending November 3, 2012.
TOTAL ASSESSED VALUE
The total assessed value of the property prior to any and
all exemption adjustments.
This article adopts and implements the provisions of the Superstorm
Sandy Assessment Relief Act, as enacted by the New York State Legislature,
Chapter 424 of the 2013 Laws of the State of New York, granting assessment
relief to the victims of Superstorm Sandy.
Notwithstanding any provision of law to the contrary, the Town
of Southold elects to provide assessment relief for properties damaged
by Superstorm Sandy, as authorized by the Relief Act, as follows:
Lost Improved Value of Property as a Result of Superstorm
Sandy
|
Reduction of Assessed Value Attributable to Improvements
on the Impacted Assessment Roll
|
---|
At least 10% but less than 20%
|
15%
|
At least 20% but less than 30%
|
25%
|
At least 30% but less than 40%
|
35%
|
At least 40% but less than 50%
|
45%
|
At least 50% but less than 60%
|
55%
|
At least 60% but less than 70%
|
65%
|
At least 70% but less than 80%
|
75%
|
At least 80% but less than 90%
|
85%
|
At least 90% but less than 100%
|
95%
|
100%
|
100%
|
This article shall apply to the impacted assessment roll, as
that term is defined in the Relief Act and this article.