[Adopted 1-13-1977 by L.L. No. 1-1977]
The purpose of this article is to provide for
the reduction of the percent of the real property tax exemption for
commercial, business or industrial activities provided for in § 485-b,
Subdivision 2(a), of the Real Property Tax Law.
The real property tax exemption as set forth
in Subdivision 2(a) of § 485-b of the Real Property Tax
Law shall be reduced to 0%, pursuant to Subdivision 7 thereof.
