[Adopted 12-11-1986 by L.L. No. 4-1986]
Pursuant to the authority of Subdivision 7 of
§ 485-b of the Real Property Tax Law, the per centum of
exemption from taxation allowed to improvements for the purpose of
commercial, business or industrial activity is hereby reduced to 0%
in each of the 10 years provided for in said section for any real
property constructed, altered, installed or improved subsequent to
the first day of March 1988, except for such construction, alteration,
installation or improvement which is completed as evidenced by a certificate
of occupancy issued prior to March 1, 1988.
