[Adopted 5-12-1980 as Ch. 101, Art. III, of
the 1980 Code; amended in its entirety 3-26-2018 by L.L. No. 4-2018]
A.
Pursuant to Real Property Tax Law § 485-b, real property
constructed, altered, installed or improved subsequent to the first
day of July, 2016, for the purpose of commercial, business or industrial
activity shall be exempt from taxation and special ad valorem levies,
except for special ad valorem levies for fire district, fire protection
district and fire alarm district purposes, to the extent hereinafter
provided.
B.
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, and such exemption shall be computed with respect to the "exemption base." The exemption base shall be the increase in assessed value as determined in the initial year of such ten-year period, following the filing of an original application, except as provided in Subsection B(2).
(1)
In any year in which a change in the level of assessment of 15% or
more is certified for a final assessment roll pursuant to the rules
of the State Board, the exemption base shall be multiplied by a fraction,
the numerator of which shall be the total assessed value of the parcel
on such final assessment roll (after accounting for any physical or
quantity changes to the parcel since the immediately preceding assessment
roll), and the denominator of which shall be the total assessed value
of the parcel on the immediately preceding final assessment roll.
The result shall be the new exemption base. The exemption shall thereupon
be recomputed to take into account the new exemption base, notwithstanding
the fact that the Assessor receives the certification of the change
in level of assessment after the completion, verification and filing
of the final assessment roll. In the event the Assessor does not have
custody of the roll when such certification is received, the Assessor
shall certify the recomputed exemption to the local officers having
custody and control of the roll, and such local officers are hereby
directed and authorized to enter the recomputed exemption certified
by the Assessor on the roll. The Assessor shall give written notice
of such recomputed exemption to the property owner, who may, if he
or she believes that the exemption was recomputed incorrectly, apply
for a correction in the manner provided by Title 3 of Article 5 of
the New York State Real Property Tax Law for the correction of clerical
errors.
(2)
Computation of and conditions for exemption.
(a)
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%
|
11
|
0%
|
(b)
No such exemption shall be granted unless:
[1]
Such construction, alteration, installation or improvement was
commenced subsequent to the first day of January, 2016;
[2]
The cost of such construction, alteration, installation or improvement
exceeds the sum of $10,000; and
[3]
Such construction, alteration, installation or improvement is
completed as may be evidenced by a certificate of occupancy or other
appropriate documentation as provided by the owner.
(c)
For purposes of this section, the terms "construction," "alteration,"
"installation" and "improvements" shall not include ordinary maintenance
and repairs.
(d)
No such exemption shall be granted concurrent with or subsequent
to any other real property tax exemption granted to the same improvements
to real property, except, where during the period of such previous
exemption, payments in lieu of taxes or other payments were made to
the local government in an amount that would have been equal to or
greater than the amount of real property taxes that would have been
paid on such improvements had such property been granted an exemption
pursuant to this section. In such case, an exemption shall be granted
for a number of years equal to the ten-year exemption granted pursuant
to this section, less the number of years the property would have
been previously exempt from real property taxes.
C.
Such exemption shall be granted only upon application by the owner
of such real property on a form prescribed by the State Board. Such
application shall be filed with the Assessor of the City of Oswego
on or before the appropriate taxable status date of the City of Oswego
and within one year from the date of completion of such construction,
alteration, installation or improvement.
D.
If the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this section, he or she shall approve the application, and such real property shall thereafter be exempt from taxation and special ad valorem levies, except for special ad valorem levies for Fire District, Fire Protection District and Fire Alarm District purposes, as herein provided, commencing with the assessment roll prepared after the taxable status date referred to in Subsection C of this section. The assessed value of any exemption granted pursuant to this section 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.
E.
The provisions of this section shall apply to real property used
primarily for the buying, selling, storing or developing of goods
or services, the manufacture or assembly of goods or the processing
of raw materials. This section 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.
F.
In the event that real property granted an exemption pursuant to
this section ceases to be used primarily for eligible purposes, the
exemption granted pursuant to this section shall cease.
G.
Insofar as the provisions of this article are inconsistent with the
provisions of any other local law or act, the provisions of this article
shall be controlling.
This article shall become effective upon filing in the office
of the Secretary of State, as provided for and in the manner described
in the Municipal Home Rule Law.