RPTL 485-e

§ 485-e. Empire zone exemption.

    1. (a) Real property constructed, altered, installed or improved in an area designated an empire zone pursuant to article eighteen-B of the general municipal law shall be
exempt from taxation and special ad valorem levies by any municipal
corporation in which located, for the period and to the extent herein
provided, provided that the governing board of such municipal
corporation, after public hearing, adopts a local law, ordinance or
resolution providing therefor. 
         (b) For exemptions commencing in the first seven years from the date
on which the empire zone was designated, the amount of such exemption in
any of these years shall be one hundred percent of the "base amount",
determined pursuant to subdivision two of this section. In the eighth,
ninth and tenth years, the amount of the exemption shall be seventy-five
percent, fifty percent, and twenty-five percent, respectively, of such
base amount. 
         (c) For exemptions commencing in the eighth, ninth and tenth years
from the date on which the empire zone was designated, the amount of
such exemption shall be seventy-five percent, fifty percent and
twenty-five percent, respectively, of the "base amount", determined
pursuant to subdivision two of this section. 
     1-a. (a) A municipal corporation may provide in such local law,
ordinance or resolution, or in a separate local law, ordinance or
resolution adopted after public hearing, that the exemption so
authorized shall be for a term of ten years, notwithstanding that the
designation of the zone may expire prior to the end of such ten year
term. Any such local law, ordinance or resolution shall be applicable
only to exemptions commencing on assessment rolls with taxable status
dates on or after the effective date of such local law, ordinance or
resolution. 
         (b) Where such local law, ordinance or resolution has been adopted,
the amount of such exemption in the first seven years of its term shall
be one hundred percent of the "base amount," determined pursuant to
subdivision two of this section. The amount of the exemption in the
eighth, ninth, and tenth years of its term shall be seventy-five
percent, fifty percent and twenty-five percent, respectively, of such
base amount. 
     2. (a) The base amount of the exemption shall be the extent of the
increase in assessed value attributable to such construction,
alteration, installation or improvement as determined in the initial
year for which application for exemption is made pursuant to this
section. The base amount shall remain constant for the authorized term
of the exemption, subject to the following: 
             (i) If there is subsequent construction, alteration, installation or
improvement during the term of the exemption, the base amount shall be
revised to include the increase in assessed value attributable to such
construction, alteration, installation or improvement. 
             (ii) If a change in level of assessment of fifteen percent or more is
certified for an assessment roll pursuant to the rules of the state
board, the base amount shall be adjusted by such change in level of
assessment. The exemption on that assessment roll shall thereupon be
recomputed, notwithstanding the fact that the assessor receives the
certification after the completion, verification and filing of the final
assessment roll. In the event the assessor does not have custody of the
roll when such certification is received, the assessor shall certify the
recomputed exemption to the local officers having custody and control of
the roll, and such local officers are hereby directed and authorized to
enter the recomputed exemption certified by the assessor on the roll. 
         (b) No such exemption shall be granted unless, pursuant to article
eighteen-B of the general municipal law: 
             (1) notice of the designation of the empire zone has been filed with
the clerk of the assessing unit by the commissioner on or before the
applicable taxable status date; 
             (2) the construction, alteration, installation or improvement
commenced on or after the date the empire zone was designated; and 
             (3) the designation of the empire zone has not ended and has not been
terminated by the commissioner on or before the applicable taxable
status date. 
         (c) For purposes of this section the terms construction, alteration,
installation and improvement shall not include ordinary maintenance and
repairs. 
         (d) No such exemption shall be granted concurrent with or subsequent
to any other real property tax exemption granted to the same
improvements to real property, except, where during the period of such
previous exemption, payments in lieu of taxes or other payments were
made to the local government in an amount that would have been equal to
or greater than the amount of real property taxes that would have been
paid on such improvements had such property been granted an exemption
pursuant to this section. In such case, an exemption shall be granted
for a number of years equal to the ten year exemption granted pursuant
to this section less the number of years the property would have been
previously exempt from real property taxes. 
     3. Such exemption shall be granted only upon application by the owner
of such real property on a form prescribed by the state board. The
original of such application shall be filed with the assessor of the
assessing unit. Such original application shall be filed on or before
the appropriate taxable status date of such assessing unit and no later
than one year from the date of completion of such construction,
alteration, installation or improvement. 
     4. If the assessor receives the notice described in subparagraph (b)
of subdivision two of this section and an application by the owner of
the real property, he shall approve the application and such real
property shall thereafter be exempt from taxation as herein provided
commencing with the assessment roll prepared after the taxable status
date referred to in subdivision three of this section. The assessed
value of any exemption granted pursuant to this section shall be entered
by the assessor on the assessment roll with the taxable property, with
the amount of the exemption entered in a separate column. 
     5. Exemptions existing prior in time to the termination of the
designation of an empire zone by the commissioner, or, in the case of a
municipal corporation which has adopted a local law, ordinance or
resolution pursuant to subdivision one-a of this section, prior in time
to the expiration of such designation, shall continue as if the
designation of the empire zone had not been terminated, or, if
applicable, had not expired; provided, however, that any further
increase in the value attributable to construction, alteration,
installation or improvement commenced subsequent to the date of
termination, or, if applicable, the date of expiration, shall not be
eligible for exemption pursuant to this section.

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