[Adopted 4-13-2015 by L.L. No. 3-2015; amended in its entirety 3-26-2018 by L.L. No. 3-2018]
This article is adopted pursuant to § 421-f of the
Real Property Tax Law for the purpose of exempting capital improvements
to residential buildings from taxation and special ad valorem levies
as hereinafter provided and shall be applied in accordance with that
statute, as amended from time to time.
As used in this article, the following terms shall have the
meanings indicated:
Shall not include ordinary maintenance and repairs, but shall
include an addition, remodeling, or modernization to an existing residential
structure to prevent physical deterioration of the structure or to
comply with applicable building, sanitary, health and/or fire codes.
Any building or structure designed and occupied exclusively
for residential purposes by not more than two families.
A.
Residential buildings reconstructed, altered, or improved subsequent
to the effective date of this article shall be exempt from taxation
and special ad valorem levies to the extent provided herein.
B.
No such exemption shall be granted for reconstruction, alterations,
or improvements, unless:
(1)
Such reconstruction, alteration or improvement was commenced subsequent
to the effective date of this article; and
(2)
The value of such reconstruction, alteration, or improvement exceeds
$3,000; and
(3)
The greater portion, as so determined by square footage, of the building
reconstructed, altered, or improved is at least five years old.
C.
Nothing herein shall require any Assessor to find that any alteration,
installation or improvement has necessarily increased or improved
the assessed value of any property.
A.
The buildings described in § 224-43 shall be exempt for a period of eight years to the extent of the following percentages of the increase in the exemption base as defined in Real Property Tax Law § 421-f as the increase in assessed value thereof attributable to such reconstruction, alteration or improvement, modified as required by Real Property Tax Law § 421-f2(a)(ii).
|
Year
|
Exemption Percentage
|
|---|---|
|
1
|
100.0%
|
|
2
|
87.5%
|
|
3
|
75.0%
|
|
4
|
62.5%
|
|
5
|
50.0%
|
|
6
|
37.5%
|
|
7
|
25.0%
|
|
8
|
12.5%
|
B.
The exemption shall be limited to $80,000 in increased market value
of the property attributable to such reconstruction, alteration or
improvement.
A.
An exemption shall be granted only upon application by the owner
of the building on a form prescribed by the Commissioner of the Department
of Taxation and Finance. The application shall be filed with the Assessor
of the local municipality having the power to assess property for
taxation on or before the appropriate taxable status date of such
local municipality.
B.
If satisfied that the applicant is entitled to an exemption pursuant
to this article, the Assessor shall approve the application, and such
building shall thereafter be exempt from taxation and special ad valorem
levies as herein provided commencing with the assessment roll prepared
on the basis of the taxable status date. 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.
A.
In the event that a building granted an exemption pursuant to this
article ceases to be used primarily for residential purposes, or title
thereto is transferred to other than the heirs or distributes of the
owner, the exemption shall cease.
B.
No such exemption shall be granted to an applicant who is in violation
of any City of Oswego code, ordinance or local law (hereinafter "violations")
or owes property taxes, water or sewer fees, special assessments,
fines for violations of City ordinances or any other fees or past-due
monies of any name or nature to the City of Oswego (hereinafter "unpaid
monies").
(1)
The applicant shall have the burden of providing proof in a form
acceptable to the Department that there are no such violations or
unpaid monies.
(2)
In the event that the applicant has accrued violations or unpaid
monies, such exemption shall be denied, regardless of whether such
violations or unpaid monies relate to a parcel of real property for
which the application is made or another parcel owned by applicant
or are personal to the applicant.
(3)
In the event that the applicant has accrued violations or unpaid
monies, such exemptions shall be denied, regardless of whether such
unpaid violations or unpaid monies occurred or accrued before the
effective date of this article.
(4)
Such exemption, once granted, shall be immediately revoked in the
event that the applicant accrues violations or unpaid monies, or violations
or unpaid monies are discovered, after the exemption is granted. Upon
such revocation, all such exemptions shall immediately cease, the
property shall be assessed at its full value, and the resulting taxes
due from the revocation of the exemption shall be prorated from the
date of the revocation to the end of the tax year and shall immediately
become due and payable.
(5)
The applicant may reapply for the exemption once all violations have
been corrected and/or unpaid monies have been paid. The reinstitution
of the exemption shall commence with the assessment roll prepared
on the basis of the next taxable status date. The exemption percentage
then to be applied shall be the same percentage which would have been
applied for the year in which the revocation is reinstituted as if
the exemption had not been revoked.
Such reconstruction, alteration or improvement must be completed
before it qualifies for the residential improvements exemption. "Completed"
means that a certificate of occupancy has been issued for that portion
of the building for which an application for exemption is filed.
This article shall become effective upon filing in the office
of the Secretary of State, as provided and in the manner described
in the Municipal Home Rule Law. Following its adoption, a copy of
this article shall be sent to and filed with the Office of Real Property
Tax Services, a Division of the Department of Taxation and Finance,
with the Director of the Real Property Tax Services of Oswego County,
and with the Assessor of the City of Oswego.
