City of Kingston, NY Article VI Exemptions for Historic Properties [1]

[Adopted 12-7-2004 by L.L. No. 5-2004, approved 12-29-2004]

[1] Editor's Note: Former Art. VI, Exemption for Historic Properties, adopted 6-2-1998 by L.L. No. 2-1998, approved 6-10-1998, expired in June 2003.

§ 360-35 Legislative intent.

A. This real property tax exemption for historic properties is being enacted in order to achieve the following goals: to increase incentives for property owners in historic districts to invest in the upkeep and rehabilitation of properties; to provide an incentive for the restoration and rehabilitation of commercial structures which qualify as landmarks in order to provide financial advantages, not available elsewhere in the City at this time, which may help to attract and retain businesses in the City of Kingston; to assist homeowners who are interested in restoring their own properties, but may not be able to afford to do so when faced with potential increases in taxation as the result of alterations which would qualify for this exemption; to provide financial incentives for investment in low-income residential neighborhoods which may contain landmarked buildings or districts designated within the area; and to provide a concrete benefit to offset the possible financial disadvantage of owning historically or architecturally significant properties which are subject to the regulation of the City's Historic Landmarks Preservation Commission.

B. The City of Kingston real property tax exemption for historic properties is intended to apply to alterations or rehabilitations of historic property as authorized pursuant to §§ 96-a and 119-aa through 119-dd of the General Municipal Law and § 444-a of the Real Property Tax Law and all other powers granted to the City of Kingston to provide such exemptions.

C. This article is intended to create a real property tax exemption that preserves or increases the historic character of real property located within the City of Kingston.

§ 360-36 Exemption granted.

Real property listed on the National and Local Historic Register within the City of Kingston which is altered or rehabilitated subsequent to the effective date of this article shall be exempt from City real property and special ad valorem levies, subject to and in accordance with the schedule set forth in Subsection A and conditions outlined in Subsection B and § 360-37.

A. Historic property which shall be defined hereafter shall be exempt from taxation to the extent of any increase in value attributable to such alteration or rehabilitation pursuant to the following schedule:

	Year of Exemption	Percentage of Exemption
	1	100%
	2	100%
	3	100%
	4	100%
	5	100%
	6	80%
	7	60%
	8	40%
	9	20%
	10	0%

B. No such exemption shall be granted for such alterations or rehabilitation unless all of the following criteria are met:

(1) Such property must be historic, which shall mean that the property has been designated as a landmark or is a property that is located in and contributes to the character of a designated historic district, created by a local law which was passed pursuant to § 96-a or § 119-dd of the General Municipal Law.

(2) Alteration or rehabilitation of exteriors of historic property must meet guidelines and review standards established in the local preservation law.

(3) Alterations and rehabilitation of exteriors are approved by the City's Historic Landmarks Preservation Commission prior to commencement of work.

(4) Alteration or rehabilitation must be for the purpose of historic preservation. For purposes of qualifying for a real property tax exemption pursuant to this local law, alterations and rehabilitation shall be deemed to be for the purpose of historic preservation if it involves only exterior work that enhances the structural stability or structural integrity of the property.

(5) Alterations or rehabilitation must be commenced subsequent to the effective date of this article.

§ 360-37 Application procedure; approval; assessment roll.

This exemption shall be granted only by application of the owner or owners of such historic real property on a form prescribed by the State Equalization and Assessment Board. The application shall be filed with the City Assessor on or before the appropriate taxable status date covering City real property. Such exemptions shall be granted where the Assessor is satisfied that the applicant is entitled to an exemption pursuant to this section. The Assessor shall approve such application and such property shall thereafter be exempt from taxation and special ad valorem levies for City real property taxation as provided in the schedule established in § 360-36A of this article commencing with the assessment roll prepared on the basis of the taxable status date referred to in this section 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 exemptions shown in a separate column.

§ 360-38 Expiration.

This article shall expire within five years from its date of effectiveness unless extended by further local law of the Common Council of the City of Kingston.

§ 360-39 When effective.

This article shall take effect immediately and shall apply to assessment rolls completed on or after such effective date.