[Adopted 2-14-1994 by L.L. No. 1-1994; amended 6-14-2010 by L.L. No. 1-2010]
The City of Ogdensburg has adopted the provisions Chapter 704 of the Laws of 1993, by local law, to provide for the partial exemption of certain capital improvements to residential property from taxation, with conditions. "Residential property" shall mean any building or structure designed and occupied exclusively for residential purposes by not more than two families. This article shall apply to residential buildings reconstructed or altered subsequent to the first day of April, 2001.
A. 
Residential buildings reconstructed, altered or improved for residential purposes, subsequent to the effective date of this article, shall be exempt from taxation to the extent provided hereinafter. This exemption shall be for exterior components of such building for reconstruction, alteration or improvement to an existing residential structure.
B. 
Such buildings shall be exempt from taxation for capital improvement for a period of one year to the extent of 100% of the increase in assessed value thereof attributable to such exterior reconstruction, alteration or improvement and for an additional period of seven years; provided, however, that the extent of such exemption shall be decreased by 12.5% of the initial exemption each year during each additional period; provided that such exemption shall be limited to $35,000 in increased market value or such other sum less than $35,000, but not less than $3,000 of the property attributable to such exterior reconstruction, alteration or improvement, and any increase in market value greater than such amount shall not be eligible for the exemption pursuant to this section. For the purpose of this section, the market value of the exterior reconstruction, alteration or improvement shall be equal to the increased assessed value attributable to such exterior reconstruction, alteration or improvement divided by the most recently established state equalization rate, except where the state equalization rate equals or exceeds 95%, then the increases in assessed value attributable to such exterior reconstruction, alteration or improvement shall equal the market value of such exterior reconstruction, alteration or improvement.
The following terms and conditions shall be applied in the implementation of this article:
A. 
For the purposes of this article, the terms "reconstruction," "alteration" and "improvement" shall not include ordinary maintenance and repairs. Ordinary maintenance and repairs are exempt.
B. 
For purposes of this article, the terms "reconstruction," "alteration" and "improvement" shall not mean or include any increase in the size or square footage of the residential structure.
C. 
The exemption provisions of this article shall not apply to swimming pools, garage structures (whether attached or detached) or any other accessory structures to the primary residential structure.
D. 
In the event that a building granted an exemption pursuant to this article ceases to be used exclusively for residential purposes or title thereto is transferred to a person or entity other than the heirs or distributes of the owner, the exemption granted pursuant to this article shall cease.
E. 
The value of such reconstruction, alteration or improvement must exceed $3,000.
F. 
The building to be reconstructed, altered or improved must be at least five years old.
G. 
Such exemption shall be granted only upon application by the owner of such building on a form prescribed by the state board to the Department of Assessment Office.