[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.
