[Adopted 4-12-1977 by L.L. No. 1-1977; amended in its entirety 1-8-1992 by L.L. No.
2-1992]
This article is designed to respond to the provisions of § 485-b
of the Real Property Tax Law, entitled generally "Business Investment
Exemption." Section 485-b of the Real Property Tax Law authorizes
the Town Assessor of the Town of Oneonta to grant the business investment
exemption for real property constructed, altered, installed or improved
subsequent to July 1, 1976, for the purpose of commercial business
or industrial activity. It is deemed to be in the best interest of
the Town and the residents and businesses of the Town that the exemption
be as authorized in § 485-b, and thereby made applicable
to the Town of Oneonta.
Within the Town of Oneonta, Otsego County, New York, from and
after the enactment of this article, the Town Assessor is authorized
to grant the business investment exemption as provided by § 485-b
of the Real Property Tax Law on any new construction, alterations,
installations or improvements for the purpose of commercial business
or industrial activity where the cost of the additional improvements
exceeds $10,000.
