[Adopted 4-11-1977 as L.L. No. 4-1977[1]]
[1]
Editor's Note: This local law was subject to a permissive referendum and took effect forty-five days after adoption.
No real property tax exemption shall be allowed for commercial, business or industrial property.
Real property constructed, altered, installed or improved subsequent to the effective date of this Article for purposes of commercial, business or industrial activity and real property otherwise qualified, except for this Article, for a real property tax exemption pursuant to § 485-b of the Real Property Tax Law shall not be exempt from taxation, special ad valorem levies and service charges and shall not be entitled to the exemption or any part thereof as set forth in § 485-b of the Real Property Tax Law.