[Adopted 2-10-1978 by L.L. No. 1-1978]
Pursuant to the authority of Subdivision 7 of § 485-b of the Real Property Tax Law, the partial exemption from taxation, special ad valorem levies and service charges provided by Subdivision 2 of § 485-b to eligible real property assessed for Town purposes is hereby reduced as provided herein. The exemption granted for the first year shall be to the extent of 0%. Thereafter, for each of the next succeeding nine years, such exemption shall be 0%.