[Adopted 4-18-2000 by L.L. No. 1-2000]
The per centum of exemption allowed under § 485-b of the Real Property Tax Law against City of New Rochelle taxes is hereby reduced to 0% pursuant to Subdivision 7 thereof.
This article shall not apply to any project currently in the course of construction or to any project already granted exemption by the City of New Rochelle Assessor pursuant to § 485-b of the Real Property Tax Law.