[Adopted 4-26-1979 by L.L. No. 3-1979]
An exemption from taxation for three 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 town, from taxes imposed by or in behalf
of the Town of Wallkill for town purposes, in the following amounts
for the following years:
|
Year
|
Percent of Exemption
|
|---|---|
|
First 3 years
|
100
|
No exemption is granted hereby for special ad
valorem levies or special assessments imposed for special district
and fire district purposes in the town.
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 imposed by the town for town 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 capital 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 authority 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 Assessor for the town 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
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 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 article and the Assessor receives notice
that a certificate of eligibility of such facility has been revoked
or modified, he 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 the assessment rolls for such
year, then a tax shall be levied at the rate of tax for such year
upon so much of the assessed valuation 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 § 551 of the Real Property Tax Law for each such year.
Any redetermination shall be made no later than three years after
the applicant for exemption last received benefit of any exemption
under § 485 of the Real Property Tax Law.
