[Adopted 5-22-1984 by L.L. No. 2-1984]
The purpose of this article is to provide for
the reduction of the per centum of the real property tax exemption
provided for in § 485-b, Subdivision 2(a), of the Real Property
Tax Law.
This article shall hereafter be known and cited
as "Tax Exemption Reduction Law."
As used in this article, unless otherwise expressly
stated, the definitions shall be the same as those applied in § 485-b
of the Real Property Tax Law.
The real property tax exemption percentage as
set forth in Subdivision 2(a) of § 485-b of the Real Property
Tax Law be and the same is hereby reduced to 0%.
This article continues the tax exemption which
applied to the Village of Rye Brook by virtue of its existence in
the Town of Rye as of the date of incorporation of the Village of
Rye Brook.
