§ 485-o. New residential property exemption; certain cities. 1.\nConstruction of qualified new residential structures or total\nrehabilitation of qualified vacant residential structures determined to\nbe unoccupied hazards initiated on or after the first day of January,\ntwo thousand thirteen in cities with a population of not less than one\nhundred thirty thousand and not more than one hundred sixty thousand,\nbased upon the two thousand ten federal census may be exempt from city\nand school taxation as provided in this section.\n 2. (a) (i) Such qualified residential real property shall be exempt in\naccordance with the applicable exemption schedules set forth in this\nsubparagraph and such exemption shall be computed with respect to the\n"exemption base". The exemption base shall be the increase in the\nassessed value due to qualified improvements as determined in the\ninitial year of the applicable exemption price following the filing of\nan original application, provided that the application relative to the\nrehabilitation of a qualified vacant residential structure determined to\nbe an unoccupied hazard shall be pre-approved by the city as provided in\nthis section.\n (ii)\n Construction of Qualified LEED Certified\n New Residential Structures\n Percentage of exemption\nYear Certified/Silver Gold Platinum\n1 100% 100% 100%\n2 100% 100% 100%\n3 100% 100% 100%\n4 100% 100% 100%\n5 100% 100% 100%\n6 100% 100% 100%\n7 100% 100% 100%\n8 100% 100% 100%\n9 80% 100% 100%\n10 60% 80% 100%\n11 40% 60% 100%\n12 20% 40% 75%\n13 0% 20% 50%\n14 0% 0% 25%\n (iii)\n Construction of Qualified New Residential Structure\n or Total Rehabilitation of Pre-approved Qualified\n Residential Structure Determined To Be An\n Unoccupied Hazard\nYear Percentage of exemption\n1 100%\n2 100%\n3 100%\n4 100%\n5 100%\n6 100%\n7 100%\n8 75%\n9 50%\n10 25%\n (iv) Any application submitted by the property owner for the exemption\nrelative to the rehabilitation of a residential structure determined to\nbe an occupied hazard shall require pre-approval by the assessor of such\ncity and the director of code enforcement which pre-approval shall be in\nwriting and shall certify that the structure to be totally rehabilitated\nqualifies as an unoccupied hazard. The failure of the applicant to apply\nor receive such pre-approval for any exemption relative to the total\nrehabilitation of a qualified residential structure determined to be an\nunoccupied hazard shall disqualify the subject property from eligibility\nfor any exemption pursuant to this section and the city's local law.\n (v) For purposes of eligibility for the total rehabilitation of a\nresidential structure, a qualified residential structure determined to\nbe an unoccupied hazard, an unoccupied hazard shall be defined as any\nresidential building or structure or a substantial part thereof which\nremains unoccupied for a period of more than one year with either doors,\nwindows, or other openings broken, removed, boarded or sealed up.\n (vi) For purposes of eligibility for the construction of a qualified\nnew
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