[Adopted 3-5-1987 by L.L. No. 1-1987]
This article shall be know and may be cited
as the "Business Investment Exemption Law of the Town of LeRay."
This article is adopted pursuant to authority
and provisions of Real Property Tax Law § 485-b and Municipal
Home Rule Law §§ 20 and 27.
It is the purpose of this article to reduce
the per centum of exemption allowed pursuant to Real Property Tax
Law § 485-b, Subdivision 2(a), to zero percentage of exemption
for each year of allowable exemption.
[Amended 12-13-2001 by L.L. No. 4-2001]
The per centum of exemption allowed pursuant
to this article may be increased by local law or resolution of the
Town Board of the Town of LeRay up to the maximum amount allowed pursuant
to Real Property Tax Law § 485-b. A copy of such local law
or resolution shall be filed with the State Board of Real Property
Services.
[Amended 12-13-2001 by L.L. No. 4-2001]
This article shall take effect immediately upon
filing with the Secretary of State and the State Board of Real Property
Services.
