[Adopted 2-2-1978 by L.L. No. 1-1978; amended in its entirety 12-5-1996 by L.L. No. 2-1996]
The Town Assessor shall have the power and be charged with the duty to carry out the purpose and intent of Article 4-A of the Economic Development Law, § 485-b of the Real Property Tax Law and other applicable laws of the state, to grant to business facility owners or operators exemption from taxes and special ad valorem levies to the extent provided in aforesaid mentioned New York State laws.
The Town Assessor shall determine the assessed value of the exemption pursuant to such state laws and shall grant as an exemption 100% thereof for a maximum of 10 years for each eligible business facility.