[Adopted 7-6-1978 by L.L. No. 2-1978]
The purpose of this article is to grant incentive
for the expansion of existing businesses in the Town of Stillwater
and the location of new businesses in said Town by granted tax exemptions
to said businesses for periods as specified herein.
The Assessors of the Town of Stillwater shall
have the power and be charged with the duty to carry out the purpose
and intent of Article 4-A of the New York State Commerce Law, § 485
of the New York State Real Property Tax Law[1] and the other applicable laws of the state, to grant to
business facility owners or operators exemptions from taxes and special
ad valorem levies to the extent provided in the aforesaid New York
State laws. Said Assessors shall determine the assessed value of the
exemption pursuant to such state laws and shall grant as an exemption
100% thereof for 10 years.
[1]
Editor's Note: These statutes have been repealed,
as follows: Article 4-A of the Commerce Law (now the Economic Development
Law), regarding the State Job Incentive Board, was repealed by L.
1983, c. 15; and § 485 of the Real Property Tax Law was
repealed by L. 1988, c. 165.
Any assessment so granted shall commence with
the assessment roll prepared on the next following taxable status
date of the Town of Stillwater.
