§ 485-o. New residential property exemption; certain cities. 1.
Construction of qualified new residential structures or total
rehabilitation of qualified vacant residential structures determined to
be unoccupied hazards initiated on or after the first day of January,
two thousand thirteen in cities with a population of not less than one
hundred thirty thousand and not more than one hundred sixty thousand,
based upon the two thousand ten federal census may be exempt from city
and school taxation as provided in this section.

2. (a) (i) Such qualified residential real property shall be exempt in
accordance with the applicable exemption schedules set forth in this
subparagraph and such exemption shall be computed with respect to the
"exemption base". The exemption base shall be the increase in the
assessed value due to qualified improvements as determined in the
initial year of the applicable exemption price following the filing of
an original application, provided that the application relative to the
rehabilitation of a qualified vacant residential structure determined to
be an unoccupied hazard shall be pre-approved by the city as provided in
this section.

(ii)

Construction of Qualified LEED Certified

New Residential Structures

Percentage of exemption
Year Certified/Silver Gold Platinum
1 100% 100% 100%
2 100% 100% 100%
3 100% 100% 100%
4 100% 100% 100%
5 100% 100% 100%
6 100% 100% 100%
7 100% 100% 100%
8 100% 100% 100%
9 80% 100% 100%
10 60% 80% 100%
11 40% 60% 100%
12 20% 40% 75%
13 0% 20% 50%
14 0% 0% 25%

(iii)

Construction of Qualified New Residential Structure

or Total Rehabilitation of Pre-approved Qualified

Residential Structure Determined To Be An

Unoccupied Hazard
Year Percentage of exemption
1 100%
2 100%
3 100%
4 100%
5 100%
6 100%
7 100%
8 75%
9 50%
10 25%

(iv) Any application submitted by the property owner for the exemption
relative to the rehabilitation of a residential structure determined to
be an occupied hazard shall require pre-approval by the assessor of such
city and the director of code enforcement which pre-approval shall be in
writing and shall certify that the structure to be totally rehabilitated
qualifies as an unoccupied hazard. The failure of the applicant to apply
or receive such pre-approval for any exemption relative to the total
rehabilitation of a qualified residential structure determined to be an
unoccupied hazard shall disqualify the subject property from eligibility
for any exemption pursuant to this section and the city's local law.

(v) For purposes of eligibility for the total rehabilitation of a
residential structure, a qualified residential structure determined to
be an unoccupied hazard, an unoccupied hazard shall be defined as any
residential building or structure or a substantial part thereof which
remains unoccupied for a period of more than one year with either doors,
windows, or other openings broken, removed, boarded or sealed up.

(vi) For purposes of eligibility for the construction of a qualified
new residential structure, the new residential property must be a one or
two family residence. New residential real property constructed which is
greater than a one or two family residence shall in no event be eligible
for real property tax exemptions authorized by this section.

(vii) (A) For the purposes of eligibility under a LEED certification
standard the term "LEED" shall mean the Leadership in Energy and
Environmental Design Building Rating System published by the United
States Green Building Council. Such residential real property which is
certified under a LEED certification standard which is determined to be
for the categories of certified, silver, gold or platinum as meeting
green building standards, as determined by a LEED accredited
professional shall be exempt as provided in subparagraph (ii) of
paragraph (a) of subdivision two of this section for the respective
percentages provided that a copy of the certification for a qualified
category is filed with the city's commissioner of assessment and the
commissioner of assessment approves the application for the applicable
category as meeting the requirements of this section and the city's
local law.

(B) Construction of a qualified new residential structure which does
not meet the certified, silver, gold or platinum standard as determined
by the city shall be exempt under subparagraph (iii) of this paragraph
provided it meets the applicable requirements of this section and the
city's local law.

(viii) Exemptions granted pursuant to this section shall apply to real
property taxes imposed for both city and school district purposes.

(b) No such exemption shall be granted unless:

(i) such construction of a qualified new residential real property or
the total rehabilitation of a qualified residential structure determined
to be an unoccupied hazard commenced on or after the first day of
January, two thousand thirteen or such later date as may be specified by
local law to qualify for the enhanced exemption;

(ii) the qualified residential real property is situated in a city
with a population of not less than one hundred thirty thousand and not
more than one hundred sixty thousand based on the two thousand ten
federal census;

(iii) the value of such construction exceeds the sum of twenty
thousand dollars; and

(iv) such construction is documented by a building permit, if
required, for the improvements, or other appropriate documentation as
required by the assessor.

(c) For purposes of this section the term "construction of
improvements" shall not include ordinary maintenance and repairs.

3. Such exemption for the construction of a qualified new residential
real property shall be granted only upon application by the owner of
such real property. Such exemption for a total rehabilitation of a
qualified residential structure determined to be an unoccupied hazard
shall be granted only upon application by the owner of such real
property who has been pre-approved in accordance with the requirements
of subparagraph (iv) of paragraph (a) of subdivision two of this
section. Such application shall be filed with the assessor of a city
with a population of not less than one hundred thirty thousand and not
more than one hundred sixty thousand based upon the two thousand ten
federal census, on or before the appropriate taxable status date of such
city and within one year from the date of completion of such
construction of qualified residential structure improvements.

4. If the assessor of such city is satisfied that the applicant is
entitled to an exemption pursuant to this section, he or she shall
approve the application and such real property shall thereafter be
exempt from taxation and special ad valorem levies by a city with a
population of not less than one hundred thirty thousand and not more
than one hundred sixty thousand based upon the two thousand ten federal
census, as provided in this section 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 of such city on the
assessment roll with the taxable property, with the amount of the
exemption shown in a separate column. In any case where there is an
additional partial exemption based on a LEED certification, a copy of
such certification shall be filed in the subject real property file.

5. In the event that real property granted an exemption pursuant to
this section ceases to be used primarily for purposes as provided in
subparagraph (vi) of paragraph (a) of subdivision two of this section
the exemption granted pursuant to this section shall cease.

6. A city with a population of not less than one hundred thirty
thousand and not more than one hundred sixty thousand, based upon the
two thousand ten federal census may establish by a local law a date for
the commencement of effectiveness of the exemption offered pursuant to
this section. In addition, such city is authorized to establish
procedures in such local law for the elimination of the exemption for an
otherwise qualified residential property which is determined by the
assessor of such city and the director of code enforcement to have
serious code violations, as defined by the city in such local law, at
any time subsequent to the approval of the application for real property
tax exemption pursuant to this section and which serious code violations
have not been corrected and any judgments and/or fines, penalties and
costs, if any, have not been paid in accordance with the applicable
laws, local law, ordinances, rules and regulations. Notwithstanding the
foregoing, the elimination of any such exemption shall take effect on
the assessment roll based on the next taxable status date subsequent to
the city's determination to eliminate the exemption. A copy of all such
local laws shall be filed with the commissioner and the assessor of such
city.