[Adopted 9-25-2017]
Effective upon filing with the Secretary of State of the State
of New York, in accordance with the terms of legislation passed in
2017 by the New York State Assembly, Senate and the Governor adding
§ 485-t to the Real Property Tax Law, owner-occupied residential
real property that has been created, modernized, rehabilitated, expanded
or improved in the City of Jamestown may be exempt from City taxation
and special ad valorem levies as follows:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
100
|
|
2
|
100
|
|
3
|
100
|
|
4
|
80
|
|
5
|
80
|
|
6
|
60
|
|
7
|
60
|
|
8
|
40
|
|
9
|
40
|
|
10
|
20
|
|
11
|
20
|
This exemption shall be governed by the terms of the New York
State Real Property Tax Law § 485-t.
