This article is adopted pursuant to § 421-f
of the Real Property Tax Law of New York State and Local Law No. 7
for 2001 of the County of Orange, New York, for the purpose of exempting
capital improvements to residential buildings from taxation and special
ad valorem levies as hereinafter provided and shall be applied in
accordance with that statute, as amended from time to time.
As used in this article, the following terms
shall have the meanings indicated:
RESIDENTIAL BUILDING
Any building or structure designed and occupied exclusively
for residential purposes by not more than two families.
In the event that a building granted an exemption
pursuant to this article ceases to be used primarily for residential
purposes or title thereto is transferred to other than the heirs or
distributees of the owner, the exemption shall cease.
This article shall automatically expire and the exemption authorized hereunder shall no longer be available to new applicants after two years from the date of its adoption. This article shall automatically expire and be of no further effect and the exemption granted hereunder shall cease immediately upon the adoption of a local law by the Town of Wallkill Town Board pursuant to any amendment of Real Property Tax Law § 421-f including a Special Law enacted by the State Legislature pursuant to Home Rule Request under the Municipal Home Rule Law. However, all exemptions granted hereunder which shall have become effective prior to the automatic expiration thereof by any event defined in this section shall continue beyond such expiration according to the terms of §§
216-12 through
216-17.