[Adopted 12-23-1976 by L.L. No. 3-1976]
Pursuant to § 485-b of the Real Property
Tax Law of the State of New York (added by Chapter 278 of the Laws
of 1976), entitled "Business Investment Exemption," the Village hereby
exercises the option granted by Subdivision 7 of § 485-b
and hereby reduces the percent of the exemption otherwise allowed
by said chapter to zero, i.e., the extent of the exemption shall be
zero percent 0% of the increase in assessed value attributable to
any qualified construction, alteration, installation or improvement
otherwise defined in said section, and said zero percentage shall
continue to apply to such increase in assessed valuation in each and
every year hereafter.
