Village of Ellenville, NY
Ulster County
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Table of Contents
Table of Contents
[Adopted 7-25-2016 by L.L. No. 2-2016]
The purpose and intent of this article is to provide a property tax incentive to encourage investment in and rehabilitation of historic properties and a phase-in of the increase of the assessed valuation attributable to the rehabilitation.
A. 
Historic property shall be exempt from taxation, to the extent of any increase in value attributable to the alteration or rehabilitation of such property, pursuant to the following schedule:
Year of Exemption
Percentage of Exemption
1 through 5
100%
6
80%
7
60%
8
40%
9
20%
10
0%
B. 
No such exemption shall be granted for such alterations or rehabilitation unless:
(1) 
Alterations and rehabilitation of exteriors of historic property are approved by the town or village in which the property is situated prior to work; and
(2) 
Such property is "historic," which means that the property has been designated as a landmark or is a property that is located in and contributes to the character of a designated historical district, created by a local law which was passed pursuant to § 96-a or § 119-dd of the General Municipal Law; and
(3) 
Alteration or rehabilitation of public interiors (to the extent pubic interiors are regulated by the local preservation law) of the historic property meets guidelines and review standards established in the local preservation law; and
(4) 
Alterations and rehabilitation are commenced subsequent to the effective date of this article.
Such exemption shall be granted only by application of the owner(s) of such historic real property on a form prescribed by the State Board of Equalization and Assessment. The application shall be filed with the Assessor of the village in which the property is situated on or before the appropriate taxable status date of such village.
Such exemption shall be granted where the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this article. The Assessor shall approve such application, and such property shall thereafter be exempt from taxation to the extent of any increase in value attributable to the alteration or rehabilitation of such property commencing with the assessment roll prepared on the basis of taxable status date referred to above in accordance with the phased-in percentage set forth in § 207-21.