[Adopted 1-3-1994 by L.L. No. 1-1994]
The purpose of this article is to grant a partial exemption from taxation for capital improvements to residential buildings within the City of Schenectady as authorized by § 421-f of the Real Property Tax Law.
[Amended 5-9-2016 by L.L. No. 3-2016]
Residential buildings reconstructed, altered or improved with proper building permits and inspection subsequent to the effective date of this article shall be exempt from taxation and special ad valorem levies to the extent and for the duration provided in § 421-f of the Real Property Tax Law. The maximum value of an improvement qualifying for this exemption shall be $25,000.