Pursuant to the provisions of § 420,
Subdivision 1(b), of the Real Property Tax Law, all real property within the geographical confines of
the Village of Lake Success owned by a corporation or association,
which is not organized or conducted exclusively for religious, charitable,
hospital, educational or cemetery purposes, or for two or more such
purposes, but which is organized or conducted exclusively for the
moral or mental improvement of men and women or for bible, tract,
benevolent, missionary, infirmary, public playground, scientific,
literary, bar association, medical society, library, patriotic or
historical purposes, for the enforcement of laws relating to children
or animals, or for two or more such purposes, and used exclusively
for carrying out thereupon one or more of such purposes either by
the owning corporation or association or by another such corporation
or association as hereinafter provided, shall be taxed by the Incorporated
Village of Lake Success.
This Article shall be effective on the first
day of January 1972 and shall apply to all assessments made and exemptions
claimed with reference to taxable status dates falling on such effective
date and thereafter.