[Adopted 12-8-1997 by L.L. No. 9-1997]
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
Pursuant to Real Property Tax Law § 485-e, the Albany
County Legislature, as the governing body of the Albany County Tax
District, hereby enacts this article providing for exemptions from
County and special ad valorem taxes for real property constructed,
altered, installed or improved in any areas designated as a State
Empire Zone, pursuant to Article 18-B of the General Municipal Law.
As used in this article, the following terms shall have the
meanings indicated:
The extent of the increase in assessed value attributable
to such construction, alteration, installation or improvement as determined
in the initial year for which application for exemption is made.
Shall not include ordinary maintenance and repairs.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
The amount of the exemption that shall be granted under this
article shall be as follows:
A.
For each of the first seven years from the date on which the Empire
Zone was designated, the amount of such exemption shall be 100% of
the base amount, determined as above.
B.
For exemptions commencing in the eighth year from the date on which
the Empire Zone was designated, the amount of the exemption shall
be 75% of the base amount.
C.
For exemptions commencing in the ninth year from the date on which
the Empire Zone was designated, the amount of the exemption shall
be 50% of the base amount.
D.
For exemptions commencing in the 10th year from the date on which
the Empire Zone was designated, the amount of the exemption shall
be 25% of the base amount.
A.
If there is a subsequent construction, alteration, installation or
improvement to the exempt property during the term of the exemption,
the base amount shall be revised to include the increase in assessed
value attributable to such construction, alteration, installation
or improvement.
B.
If a change in the level of assessment of 15% or more is certified
for an assessment roll pursuant to the rules of the Commissioner of
Taxation and Finance, the base amount shall be adjusted by such change
in the level of assessment. The exemption on that assessment roll
shall thereupon be recomputed, notwithstanding the fact that the Assessor
receives the certification 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
directed and authorized to enter the recomputed exemption certified
by the Assessor on the roll.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
Application for an exemption pursuant to this article shall
be made by the owner of such real property on a form prescribed by
the Commissioner of Taxation and Finance. The original application
shall be filed with the Assessor of the assessing unit on or before
the taxable status date of such assessing unit and no later than one
year from the date of completion of such construction, alteration,
installation or improvement.
If the Assessor receives the notice described in § 270-93A(1) of this article and an application by the owner of the real property, he/she shall approve the application and such real property shall thereafter be exempt from taxation as herein provided commencing with the assessment roll prepared after the taxable status date referred to in § 270-87 of this article. 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 entered in a separate column.
Exemptions granted pursuant to this article shall be subject
to the following limitations:
A.
No such exemption shall be granted unless, pursuant to Article 18-B
of the General Municipal Law:
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
(1)
Notice of the designation of the Empire Zone has been filed with
the Clerk of the assessing unit by the Commissioner on or before the
applicable taxable status date;
(2)
The construction, alteration, installation or improvement commenced
on or after the date the Empire Zone was designated; and
(3)
The designation of the Empire Zone has not ended and has not been
terminated by the Commissioner on or before the applicable taxable
status date.
B.
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.
This article shall take effect immediately and shall apply to
assessment rolls prepared on the basis of taxable status dates occurring
on and after January 1, 1998.
