Section 1.
Pursuant to Section 483 of the Real Property Tax Law of the State of New York, eligible business facilities are defined in Section 115 of the Commerce Law of the State of New York which are located within the Town of Huron shall be exempt from taxes and special ad valorem levies imposed by or on behalf of the Town of Huron for Town purposes to the extent provided in Section 485 of the Real Property Tax law, in accordance with the following schedule for exemption:
90% exemption for the first year
80% exemption for the second year
70% exemption for the third year
60% exemption for the fourth year
50% exemption for the fifth year
40% exemption for the sixth year
30% exemption for the seventh year
20% exemption for the eighth year
10% exmeption for the ninth year
Such exemption shall be granted only upon an application by the owner or operator of such facility on a form prescribed by the New York State Job Incentive Board, to which there shall be attached a copy of a certificate of eligibility issued by the aforesaid Job Incentive Board and the exemption shall be continued from year to year during such period only if the certificate of eligibility with respect to such business facility is not revoked or modified and is renewed or extended as provided in Section 120 of the Commerce Law of the State of New York.
Section 2.
(a) Any business facility granted an exemption pursuant to Section 485 -B of the Real Property Tax Law shall be ineligible for an exemption pursuant to this Local Law.
(b) In the event a business facility which has been granted an exemption pursuant to this Local law is granted an exemption under Section 485-B of the Real Property Tax Law, the exemption granted pursuant to this Local Law shall cease.
Section 3.
If an exemption has once been granted for a business facility under Section 485 of the Real Property Tax Law and the assessors receive notice that a Certificate of Eligibility of such facility has been revoked or modified, they shall redetermine the assessed value of any such exemptions in accordance with such revocation or modification. If upon such redetermination it appears for a year for which an exemption has been granted that such facility has been ineligible or that the assessed value of such exemption as redetermined is less than the assessed value of such exemption as shown on the assessment rolls for such year, then a tax shall be levied at the rate of tax for such year upon so much of the assessed valuation of such exemption, as shown on such assessment rolls, as may be ineligible or excessive. Such tax shall be levied as an omitted assessment in the manner provided in Section 550 of the Real Property Tax Law.
Section 4.
This local law is subject to a permissive referendum and in the event that a timely and lawful petition for such referendum is not filed, the same shall take effect forty-five days after its adoption and upon filing the same in the Office of the Secretary of State and in the Office of the State Comptroller.
