An exemption from taxation and special ad valorem
levies for six years after the adoption hereof is hereby granted to
eligible business facilities as defined in § 115 of the
Commerce Law of the State of New York, located in this county, from
taxes and special ad valorem levies imposed by or in behalf of the
Town of Monroe for Town of Monroe purposes in the following amounts
for the following years:
Year
|
Exemption
(percent)
|
|
---|
First three
|
100
|
|
Fourth
|
80
|
|
Fifth
|
50
|
|
Sixth
|
20
|
|
An eligible business facility as defined by
the New York State Job Incentive Board, pursuant to §§ 115
and 120 of the Commerce Law of the State of New York, shall be exempt
from taxes and special ad valorem levies imposed by the Town of Monroe
for Town of Monroe purposes for any increase in the value thereof
which is attributable to expenditures certified by the Job Incentive
Board to have been paid or incurred by the owner or operator for capitable
improvements commenced on or after the effective date of this article,
consisting of the construction, reconstruction, erection or improvement
of depreciable real property included in such facility, and such exemptions
shall be continued from year to year during the specified period only
if the certificate of eligibility with respect to such business facility
is not revoked or modified and is renewed or extended as provided
by § 120 of the Commerce Law.
Such exemption shall be granted only upon an
application by the owner or operator of such facility on a form prescribed
by the New York State Job Incentive Board, to which there shall be
attached a copy of the certificate of eligibility issued by the New
York State Job Incentive Board. Such application shall be filed with
the appropriate assessing authorities on or before the appropriate
taxable status dates. Copies of such applications shall be filed simultaneously
with the New York State Job Incentive Board and the State Board of
Equalization and Assessment.
The Assessors shall consider the application
for such exemption and, if the same is in order, shall determine the
assessed value of such exemption in accordance with the above-mentioned
certificate of eligibility, issued pursuant to § 120 of
the Commerce Law of the State of New York, and shall enter such value
on the exempt portion of the assessment roll. The eligible business
facility shall then be exempt to the extent provided by this article
from taxes and special ad valorem levies commencing with the assessment
roll prepared on the next following taxable status date.
If an exemption has once been granted for a
business facility under this section and the Assessors receive notice
that a certificate of eligibility for such facility has been revoked
or modified, they shall redetermine the assessed value of any such
exemption in accordance with such revocation or modification. If upon
such redetermination, it appears, for a year for which an exemption
has been granted, that such facility has been ineligible or that the
assessed value of such exemption as redetermined is less than the
assessed value of such exemption as shown on such assessment rolls,
as may be ineligible or excessive, such tax shall be levied as an
omitted assessment in the manner provided in § 550 of the
Real Property Tax Law for each such year. Any such redetermination
shall be made no later than three years after the applicant for exemption
last received benefit of any exemption under said § 485
of the Real Property Tax Law.
[Amended 8-3-1982 by L.L. No. 2-1982]
For the purposes of § 485-b of the
Real Property Tax Law, known as the "business investment exemption,"
such exemption shall, as of the taxable status date next following
the effective date of this article be and hereby is reduced to 0%;
however, such reduction shall not affect any such exemptions that
have existed prior to the effective date of this article.