It is the intent of this article to extend the Capital Improvements to Real Properties real property tax exemptions, as authorized by New York State Real Property Tax Law § 421-f, to the fullest extent permitted by law, and so long as this exemption is authorized and approved by New York State and the applicant or beneficiary is properly and duly qualified for such exemption.
[Adopted 5-21-2025 by L.L. No. 3-2025]
The application required for this exemption shall be both submitted to and received by the appropriate assessor's office within the earlier of one year of the date of issuance of any certificate of occupancy, or the close-out of any building permit issued for the capital improvement being considered for the exemption.
If any portion of this article, or the application thereof to any person, entity, or circumstance, shall be determined by any court or tribunal of competent jurisdiction to be invalid or unenforceable, such determination shall be confined in its operation to the invalid part hereof, or in its application to such person, entity, or circumstance as is directly involved in the controversy in which such determination shall have been rendered, and the remainder of this article shall not be impaired thereby and such determination shall not be deemed or construed to apply to other persons, entities, or circumstances.
This article shall take effect immediately.