[Adopted 8-11-1997 by L.L. No. 2-1997]
To qualify as an historic barn for this purpose,
the barn must have been at least partially completed prior to 1936,
and must have originally been designed and used for storing farm equipment
or agricultural products or for housing livestock. An otherwise qualified
historic barn may not receive the exemption if it is presently used
for residential purposes, if the historic appearance of the barn was
materially altered by the reconstruction or rehabilitation, or if
the barn received the agricultural buildings exemption (RPTL § 483)
within the prior 10 years.
When the eligibility criteria are satisfied,
the Assessor of the Town of Brutus is authorized to allow the exemption.
The increased value that would otherwise result from the reconstruction
or rehabilitation of an historic barn will be totally exempt from
taxation in the first year. Thereafter the exemption will be phased
out over the next succeeding nine years by an additional 10% per year.
