§ 485-E — Empire zone exemption

New York § 485-E

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Title 2: Private Property
• Art. 4: Exemptions

Text

§ 485-e. Empire zone exemption. 1. (a) Real property constructed,\naltered, installed or improved in an area designated an empire zone\npursuant to article eighteen-B of the general municipal law shall be\nexempt from taxation and special ad valorem levies by any municipal\ncorporation in which located, for the period and to the extent herein\nprovided, provided that the governing board of such municipal\ncorporation, after public hearing, adopts a local law, ordinance or\nresolution providing therefor.\n (b) For exemptions commencing in the first seven years from the date\non which the empire zone was designated, the amount of such exemption in\nany of these years shall be one hundred percent of the "base amount",\ndetermined pursuant to subdivision two of this section. In the eighth,\nninth and tenth years, the amount of the exemption shall be seventy-five\npercent, fifty percent, and twenty-five percent, respectively, of such\nbase amount.\n (c) For exemptions commencing in the eighth, ninth and tenth years\nfrom the date on which the empire zone was designated, the amount of\nsuch exemption shall be seventy-five percent, fifty percent and\ntwenty-five percent, respectively, of the "base amount", determined\npursuant to subdivision two of this section.\n 1-a. (a) A municipal corporation may provide in such local law,\nordinance or resolution, or in a separate local law, ordinance or\nresolution adopted after public hearing, that the exemption so\nauthorized shall be for a term of ten years, notwithstanding that the\ndesignation of the zone may expire prior to the end of such ten year\nterm. Any such local law, ordinance or resolution shall be applicable\nonly to exemptions commencing on assessment rolls with taxable status\ndates on or after the effective date of such local law, ordinance or\nresolution.\n (b) Where such local law, ordinance or resolution has been adopted,\nthe amount of such exemption in the first seven years of its term shall\nbe one hundred percent of the "base amount," determined pursuant to\nsubdivision two of this section. The amount of the exemption in the\neighth, ninth, and tenth years of its term shall be seventy-five\npercent, fifty percent and twenty-five percent, respectively, of such\nbase amount.\n 2. (a) The base amount of the exemption shall be the extent of the\nincrease in assessed value attributable to such construction,\nalteration, installation or improvement as determined in the initial\nyear for which application for exemption is made pursuant to this\nsection. The base amount shall remain constant for the authorized term\nof the exemption, subject to the following:\n (i) If there is subsequent construction, alteration, installation or\nimprovement during the term of the exemption, the base amount shall be\nrevised to include the increase in assessed value attributable to such\nconstruction, alteration, installation or improvement.\n (ii) If a change in level of assessment of fifteen percent or more is\ncertified for an assessment roll pursuant to the rules of the\ncommissioner, the base amount shall be adjusted by such change in level\nof assessment. The exemption on that assessment roll shall thereupon be\nrecomputed, notwithstanding the fact that the assessor receives the\ncertification after the completion, verification and filing of the final\nassessment roll. In the event the assessor does not have custody of the\nroll when such certification is received, the assessor shall certify the\nrecomputed exemption to the local officers having custody and control of\nthe roll, and such local officers are hereby directed and authorized to\nenter the recomputed exemption certified by the assessor on the roll.\n (b) No such exemption shall be granted unless, pursuant to article\neighteen-B of the general municipal law:\n (1) notice of the designation of the empire zone has been filed with\nthe clerk of the assessing unit by the commissioner on or before the\napplicable taxable status date;\n (2) the construction, alteration, installation or improvement\ncommenced on or after the date the empire zone was designated; and\n (3) the designation of the empire zone has not ended and has not been\nterminated by the commissioner on or before the applicable taxable\nstatus date.\n (c) For purposes of this section the terms construction, alteration,\ninstallation and improvement shall not include ordinary maintenance and\nrepairs.\n (d) No such exemption shall be granted concurrent with or subsequent\nto any other real property tax exemption granted to the same\nimprovements to real property, except, where during the period of such\nprevious exemption, payments in lieu of taxes or other payments were\nmade to the local government in an amount that would have been equal to\nor greater than the amount of real property taxes that would have been\npaid on such improvements had such property been granted an exemption\npursuant to this section. In such case, an exemption shall be granted\nfor a number of years equal to the ten year exemption granted pursuant\nto this section less the number of years the property would have been\npreviously exempt from real property taxes.\n 3. Such exemption shall be granted only upon application by the owner\nof such real property on a form prescribed by the commissioner. The\noriginal of such application shall be filed with the assessor of the\nassessing unit. Such original application shall be filed on or before\nthe appropriate taxable status date of such assessing unit and no later\nthan one year from the date of completion of such construction,\nalteration, installation or improvement.\n 4. If the assessor receives the notice described in subparagraph (b)\nof subdivision two of this section and an application by the owner of\nthe real property, he shall approve the application and such real\nproperty shall thereafter be exempt from taxation as herein provided\ncommencing with the assessment roll prepared after the taxable status\ndate referred to in subdivision three of this section. The assessed\nvalue of any exemption granted pursuant to this section shall be entered\nby the assessor on the assessment roll with the taxable property, with\nthe amount of the exemption entered in a separate column.\n 5. Exemptions existing prior in time to the termination of the\ndesignation of an empire zone by the commissioner, or, in the case of a\nmunicipal corporation which has adopted a local law, ordinance or\nresolution pursuant to subdivision one-a of this section, prior in time\nto the expiration of such designation, shall continue as if the\ndesignation of the empire zone had not been terminated, or, if\napplicable, had not expired; provided, however, that any further\nincrease in the value attributable to construction, alteration,\ninstallation or improvement commenced subsequent to the date of\ntermination, or, if applicable, the date of expiration, shall not be\neligible for exemption pursuant to this section.\n