Form Rp-485-S - Application For Partial Tax Exemption For Mixed Use Real Property In Certain Villages Page 2

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Page 2 of 2 RP-485-s (12/16)
Instructions
Application instructions
General information
Print the name and mailing address of each person who is
Real Property Tax Law section 485-s authorizes a partial
an owner of the property.
exemption from real property taxation of the increase in
assessed value attributable to newly constructed mixed
You can find the parcel identification number on either the
use property. The exemption is only available in villages
assessment roll or your tax bill.
with a population greater than 5,500, but less than 5,600
Mixed use: The improvement must be used for both
as measured by the latest decennial census. Based upon
residential and commercial purposes. Mark an X in the
2010 census data, only the Village of Wappingers Falls
appropriate box.
in Dutchess County satisfies this population criterion.
Upon adoption by the village, the county and town in
Date of Construction: The improvement must have
which the village is located and any school district, all or
been constructed subsequent to passage of the local law
part of which is located in the village, may also adopt the
adopting this exemption.
Mark an X in the appropriate
exemption by means of a local law, or in the case of a
box.
school district, a resolution.
Exemption: If the property is currently receiving or has in
To qualify, the property must be:
the past received another property tax exemption, mark
• Mixed use (commercial and residential)
an X in the Yes box and list the amount of payments if
PILOT or other payments were made while receiving
• New construction
the exemption. Attach a schedule showing the amounts
• The eligible improvement cannot be receiving or have
and dates of such payments, and the purposes for
received other property tax exemptions unless PILOT
which such payments were made (for example, school
or other payments were made that were equal to or
district, general municipal, etc.). Also attach any related
greater than the amount of real property taxes that
documentation, such as a copy of the agreement under
would have been paid if the property had been granted
which such payments were made.
this exemption.
Deadline: You must file the application with the local
assessor on or before the applicable taxable status date.
For further information, ask your local assessor.
Do not file this form with the New York State
Department of Taxation and Finance or the Office of
Real Property Tax Services.
This Area for Assessor’s Use Only
Date application filed:
Exemption applies to taxes levied by or for:
Application approved
Town
Application disapproved
City
a) Full resale value of property
County
b) Maximum resale value allowed
School
c) Latest equalization rate
Village
d) Exemption amount (a-b)*c
Assessor’s name (print)
Assessor’s signature
Date

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