[Adopted 11-9-2021 by L.L. No. 18-2021[1]]
[1]
Editor's Note: This local law also repealed former Art. I, Commercial Tax Exemption, adopted 12-15-2020 by L.L. No. 1-2021.
The purpose of this article is to provide for the local adoption of the real property tax exemption provided for in Subdivision 7 of § 485-b of the New York State Real Property Tax Law ("RPTL § 485-b"), consistent with the findings that delaying the full increase of assessed property value after improvements of commercial properties encourages targeted economic development and creates or retains permanent private sector jobs, and is justified by the need to provide employment opportunities and broaden the tax base within the Village of Briarcliff Manor.
This article shall hereafter be known and cited as the "Commercial Tax Exemption Law."
As used in this article, words shall, unless otherwise expressly stated, be defined as set forth in RPTL § 485b.
The real property tax exemption percentage as set forth herein is subject to the specific conditions hereunder.
A. 
The subject property must be used primarily for buying, selling, storing, or developing goods or services, for the manufacture or assembly of goods, for processing raw materials, or for hotel or motel purposes (but not for any other type of dwelling accommodations for residents or transients).
B. 
Construction or improvement must begin after the later of:
(1) 
July 1, 2020; and
(2) 
The effective date of this article.
C. 
Completion of the construction or improvement project must be demonstrated by a certificate of occupancy issued by the Village of Briarcliff Manor.
D. 
The subject site must have undergone verified and substantiated expenditures of at least $50,000 for new construction, renovations, and/or alterations.
E. 
The completed property improvements must generate additional real estate tax revenues to the applicable taxing authorities.
F. 
The subject site must be verified in writing by the Village of Briarcliff Manor prior to construction, renovation and/or alteration to be within the specific defined geographic boundaries for said RPTL § 485-b real property tax exemption.
G. 
The RPTL § 485-b tax exemption application by the owner applicant must be in conformance with the requirements of the New York State Real Property Tax Law and be reviewed and approved by the applicable Tax Assessor.
H. 
The RPTL § 485-b tax exemption application must be filed by the owner of the subject property with the applicable Assessor between January 1 and March 1 for any year where the verifiable construction, renovation and/or alteration work has progressed in the prior twelve-month period.
I. 
The applicant owner must meet or otherwise be in compliance with all New York State, County of Westchester, and Village of Briarcliff Manor zoning requirements and have received all required municipal approvals.
J. 
The applicant owner has not received, and will not apply for, any other real property tax exemptions for the subject site.
K. 
The applicant owner has fully satisfied any outstanding tax obligations, and penalty and interest payments related thereto, for all properties within the Village of Briarcliff Manor for which he has such obligations.
The following percentages of the increase in assessed value resulting from the construction or improvement should be applied:
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%
Any noncommercial property shall be excluded from the property tax exemptions provided herein.
When effective, this article repeals the former Chapter 195, Article I, Business Investment Exemption, and any of its predecessors, including local Law 5-1976, adopted December 2, 1976.
This article shall take effect immediately upon filing in the office of the Secretary of State of New York.