Pursuant to Subdivision 2 of § 485-b of the Real Property
Tax Law of the State of New York, real property constructed, altered,
installed or improved for the purpose of commercial, business or industry
activity in the Town of Seneca Falls shall be exempt from taxation
and special ad valorem levies to the extent hereinafter provided.
The following table shall illustrate the computation of the tax exemption:
Year of Exemption
|
Percentage of Exemption
|
---|
1
|
50%
|
2
|
45%
|
3
|
40%
|
4
|
35%
|
5
|
30%
|
6
|
25%
|
7
|
20%
|
8
|
15%
|
9
|
10%
|
10
|
5%
|