[Adopted 7-28-2009 by L.L. No. 3-2009]
Pursuant to the provisions of § 485-b of the Real Property Tax Law of the State of New York, the Village of Camillus Board of Trustees is authorized to adopt a partial real property tax exemption for certain commercial, business and industrial improvements in the Village. This Article V shall allow real property constructed, altered, installed or improved for the purpose of commercial, business or industrial activity to be exempt from taxation, special ad valorem levies and service charges pursuant to Real Property Tax Law § 485-b to the extent hereinafter provided.
Such real property shall be exempt for a period of one year
to the extent of 50% of the increase in assessed value thereof attributable
to such construction, alteration, installation or improvement and
for an additional period of nine years; provided, however, that the
extent of such exemption shall be decreased by 5% each year during
such additional period of nine years. The following table shall illustrate
the computation of the tax exemption:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
50%
|
|
2
|
45%
|
|
3
|
40%
|
|
4
|
35%
|
|
5
|
30%
|
|
6
|
25%
|
|
7
|
20%
|
|
8
|
15%
|
|
9
|
10%
|
|
10
|
5%
|
Such exemption shall be granted only upon application by the
owner of such real property on a form prescribed by the State Board.
The original of such application shall be filed with the Assessor
of the Village of Camillus or, if none, the Town of Camillus, on or
before the appropriate taxable status date. A copy thereof shall be
filed with the State Board.
If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this Article V, he or she shall approve the application, and such real property shall thereafter be exempt from taxation, special ad valorem levies and service charges as herein provided, commencing with the assessment roll prepared after the taxable status date referred to in § 100-27. The assessed value of any exemption granted pursuant to this Article V shall be entered by the Assessor on the portion of the assessment roll provided for property exempt from taxation.
The provisions of this Article V shall apply to all real property within the Village of Camillus used primarily for the buying, selling, storing or developing goods, services, the manufacture or assembly of goods, or the processing of raw materials. This Article V 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.
