[Adopted 3-9-1977 by L.L. No. 2-1977; amended 10-21-1987 by L.L. No. 4-1987 (Ch. 101, Art. I, of the 1980 Code)]
Pursuant to Subdivision 7 of § 485-b of the Real Property Tax Law, the Town of Chili authorizes the graduated exemption from taxation, special ad valorem levies and service charges for new construction, alterations, installations or improvements exceeding $10,000 to commercial, business and industrial property. The graduated exemption is for a ten-year period as set forth in Subdivision 2(a) of § 485-b of the Real Property Tax Law.