[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.