HomeMy WebLinkAboutLL 03 of 2017 Housing Trust Tax ExemptionSTATE OF NEW YORK
DEPARTMENT OF STATE
One Commerce Plaza Andrew
99 Washington avenue
Albany, NY 12231-0001 rossana Rosado
WWW.D0S.NY.GOV _ _ SECRETARY OF SIATE-
February 10, 2017
Debra DeAugistine
Deputy Town Clerk
215 N. Tloga Street
Ithaca NY 14850
RE: Town of Ithaca, Local Law 2 & 3 2017, filed on February 10, 2017
Dear Sir/Madam:
The above referenced material was filed by this office as indicated. Additional
local law filing forms can be obtained from our website, www.dos.nv.aov.
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State Records and Law Bureau
(518)473-2492
NEWYORK
STATE OF
OPPORTUNITY-
Department
of State
New York State Department of State
Division of Corporations, State Records and Uniform Commercial Code
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I nri^il I Filinn Albany, ny 12231-0001l-uuai uavv nmiy www.dos.state.ny.us/corps
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Text of law should be given as amended. Do not include matter being eliminated and do not use
italics or underlining to indicate new matter.
□County ncity □Town □Village
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of Ithaca
Local Law No. 3 of the year 2017
A local law Amending Town of Ithaca Code Chapter 239, Entitled "Taxation," by Adding a
(Insert Title)
New Article VII, Entitled "Housing Trust Exemption," to Partially Exempt from
Town Taxation Residential Housing on Land Owned by Housing Trusts
Be It enacted by the Town Board
(Name of Legislative Body)
□County □City |XlTown □Village
(Select one:)
of Ithaca as follows:
See attached.
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(Complete the certification in the paragraph that applies to the filing of this local law and
strike out that which is not applicable.)
1. (Final adoption by local legislative body only.)
I hereby certify that the local law annexed hereto, designated as local law No. z of 20"*^ of
the (County)(City)(Town)(Village) of was duly passed by the
Town Board on February 2 20 "*7 in accordance with the applicable
(Name of Legislative Body)
provisions of law.
2. (Passage by local legislative body with approval, no disapproval or repassage after disapproval by the Elective
Chief Executive Officer*.)
I hereby certily that the local law annexed hereto, designated as local law No. of 20 of
the (County)(City)(Town)(Village) of was duly passed by the
on 20 , and was (approved)(not approved)
(Name of Legislative Body)
(repassed after disapprov
on 20| I I, in accordance w ith the applicable provisions of law.
(repassed after disapproval) by the and was deemed duly adopted
(Elective Chief Executive Officer*)
3. (Final adoption by referendum.)
I hereby certify that the local law annexed hereto, designated as local law No. of 20 of
the (County)(City)(Town)(Village) of was duly passed by the
on 20 , and was (approved)(not approved)
(Name of Legislative Body)
(repassed after disapproval) by the on 20 .
(Elective Chief Executive Officer*)
Such local law was submitted to the people by reason of a (mandatory)(permissive) referendum, and received the affirmative
vote of a majority of the qualified electors voting thereon at the (general)(special)(annual) election held on
20 , in accordance with the applicable provisions of law.
4. (Subject to permissive referendum and final adoption because no valid petition was filed requesting referendum.)
I hereby certify that the local law annexed hereto, designated as local law No. ^ of 20 of
the (County)(City)(Town)(Village) of was duly passed by the
on 20 , and was (approved)(not approved)
(Name of Legislative Body)
(repassed after disapproval) by the on 20 . Such local
(Elective Chief Executive Officer*)
law was subject to permissive referendum and no valid petition requesting such referendum was filed as of
20 , in accordance with the applicable provisions of law.
* Elective Chief Executive Officer means or includes the chief executive officer of a county elected on a county-wide basis or, if there
be none, the chairperson of the county legislative body, the mayor of a city or village, or the supervisor of a town where such officer is
vested with the power to approve or veto local laws or ordinances.
5. (City local law concerning Charter revision proposed by petition.)
I hereby certify that the local law annexed hereto, designated as local law No of 20 of
the City of having been submitted to referendum pursuant to the provisions of section (36)(37) of
t;/*^unlclpal Home Rule Law, and having received the affirmative vote of a majority of the qualified electors of such city voting
t on at the (speclal)(general) election held on 20 , became operative.
6. (County local law concerning adoption of Charter.)
I hereby certify that the local law annexed hereto, designated as local law No of 20 of
the County of .State of New York, having been submitted to the electors at the General Election of
November 20 pursuant to subdivisions 5 and 7 of section 33 of the Municipal Home Rule Law, and having
received the affirmative vote of a majority of the qualified electors of the cities of said county as a unit and a majority of the
qualified electors of the towns of said county considered as a unit voting at said general election, became operative.
(If any other authorized form of final adoption has been followed, please provide an appropriate certification.)
I further certify that I have compared the preceding local law with the original on file In this office and that the same Is a
correct transcript therefrom and of the whole of such original local la^ .and was finally adopted In the manner Indicated In
paragraph J , above. ^ / /
e body, pityL Town or Vil)lerk of the county ^gislalive body, or Village Clerk or
jsignated byfecai I
(Seal) Date:
Adopted February 2, 2017 Pg. 1
TOWN OF ITHACA
LOCAL LAW NO. 3 OF THE YEAR 2017
AMENDING TOWN OF ITHACA CODE CHAPTER 239, ENTITLED
“TAXATION,” BY ADDING A NEW ARTICLE VII, ENTITLED “HOUSING
TRUST EXEMPTION,” TO PARTIALLY EXEMPT FROM TOWN TAXATION
RESIDENTIAL HOUSING ON LAND OWNED BY HOUSING TRUSTS
Be it enacted by the Town Board of the Town of Ithaca as follows:
Section 1. Chapter 239 of the Town of Ithaca Code, entitled “Taxation,” is
amended by adding a new Article VII, entitled “Housing Trust Exemption” as follows:
“Section 239-24. Statutory Authority.
This article is enacted pursuant to Section 467-j of the Real Property Tax Law of the Sate
of New York, as amended through Chapter 352 of the Laws of 2016.
Section 239-25. Grant of Exemption.
Pursuant to the provisions of Section 467-j of the Real Property Tax Law of the State of
New York, the real property tax exemption authorized by this article shall be in an
amount equal to the latest state equalization rate multiplied by the difference between the
full resale value of such real property absent any restriction and the maximum resale
value of such real property established by a ground lease to residential properties located
on land owned by a not-for-profit entity and subject to regulatory restrictions from
federal, state or local housing programs that provide grants or loans to enhance housing
affordability and subject to a ground lease or deed restrictions that restrict the resale price
of such real property for at least thirty years.
Section 239-26. Application for exemption.
Such exemption shall be granted only upon successful application by the owner or all the
owners of such real property on a form as prescribed by Section 467-j of the Real
Property Tax Law of the State of New York. The owner or owners shall furnish the
information and execute the form in the manner required or prescribed in such form and
shall file such form annually in the Tompkins County Assessment office on or before the
appropriate taxable status date. Such exemption shall be granted only if the appropriate
assessing authority approves the application.
Section 239-23. Applicability.
This article shall apply to assessment rolls prepared after the effective date of this article
on the basis of taxable status dates occurring on or after March 1, 2017.”
Adopted February 2, 2017 Pg. 2
Section 2. If any provision of this local law is found invalid by any court of
competent jurisdiction, such invalidity shall not affect any other provisions of this local
law, which shall remain in full force and effect.
Section 3. This local law shall take effect upon its filing with the New York
Secretary of State.