[Adopted 2-6-2014 by L.L. No. 1-2014]
This article is enacted pursuant to the provisions of § 421-f of the Real Property Tax Law of the State of New York to authorize a partial exemption from real property taxation of the increase in assessed value attributable to reconstructed, alterations or improvements made to residential property within the Village of Perry. The exemption applies to taxes and special ad valorem levies; the exemption does not apply to special assessments.
As used in this article, the following terms shall have the meanings indicated:
- Any person obligated to pay real property taxes on the property for which an exemption from real property taxes under this article is sought.
- EXEMPTION BASE
- The increase in assessed value as determined in the initial year of the term of the exemption.
- MARKET VALUE OF THE RECONSTRUCTION, ALTERATION OR IMPROVEMENT
- Shall be equal to the increased assessed value attributable to such reconstruction, alteration or improvement by dividing the increase in assessed value attributable to the reconstruction, alteration or improvement by the latest state equalization rate or special equalization rate, such rate is 95% or more, in which case the increased assessed value will be deemed to equal the market value.
- RESIDENTIAL BUILDING
- Any building or structure designed and occupied exclusively for residential purposes by not more than two families.
Residential buildings within the Village which have been reconstructed, altered or improved shall be exempt from taxation and special and valorem levies as provided hereinunder.
The property for which exemption is sought must be a one- or two-family residence.
Such buildings shall be exempt for a period of one year to the extent of 100% of the increase in assessed value thereof attributable to such reconstruction, alteration or improvement.
For an additional period of seven years, such residential building shall be exempt subject to the following:
Such exemption shall be limited to $80,000 in increased market value of the property attributable to such reconstruction, alteration or improvement. Any increase in market value greater than such amount stated above shall not be eligible for the exemption.
For the purposes of this article, the terms "reconstruction," "alteration" or "improvement" shall not include ordinary maintenance and repairs.
No such exemption shall be granted for reconstruction, alterations or improvements unless:
Such reconstruction, alteration or improvement was commenced subsequent to the effective date of this article.
The value of such reconstruction, alteration or improvement exceeds $3,000.
The greater portion, as so determined by square footage, of the building reconstruction, altered or improved is at least five years old.
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 granted pursuant to this article shall cease. The exemption will automatically be recalculated in any year in which there is a change in level of assessment for the final assessment roll of 15% or more.
Such exemption shall be granted only upon application by the owner of such real property on a form prescribed by the State Board of Real Property Tax Services. Such application shall be filed with the Village Assessor on or before the appropriate taxable status date of the Village.
If the Village Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article, he or she shall approve the application and such building shall thereafter be exempt from taxation and special ad valorem levies as provided herein commencing with the assessment roll prepared after the appropriate taxable status date of the Village. The assessed value of any exemption granted pursuant to this article shall be entered by the Village Assessor on the assessment roll with the taxable property, with the amount of the exemption shown in a separate column.
All ordinances, local laws and parts thereof inconsistent with this article are hereby repealed. If this article is repealed, the exemption granted pursuant to same will continue until the expiration of the period of that exemption.
If any clause, sentence, paragraph, subdivision, or part of this article or the application thereof to any person, firm or corporation, or circumstance, shall be adjudged by any court of competent jurisdiction to be invalid or unconstitutional, such order or judgment shall not affect, impair, or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, subdivision, or part of this article or in its application to the person, individual, firm or corporation or circumstance, directly involved in the controversy in which such judgment or order shall be rendered.
This article shall take effect upon its filing with the New York State Secretary of State. A copy of this article shall also be filed with the Commissioner and the Assessor of the Village who prepares the assessment roll on which the taxes of such Village are levied.