[On May 13, 1985, the Town of Cornwall adopted Local Law No. 1-1985, repealing Local Law No. 3-1976, which had denied a business
investment exemption under § 485-b of the Real Property
Tax Law. Thus, the benefits of § 485-b as they pertain to
a percentage exemption of real property tax attributable to the increased
assessed value of real property resulting from certain construction
or improvement are now in effect in the Town.]