Pursuant to § 485-b of the Real Property
Tax Law titled "Business investment exemption" (added by Chapter 278
of Laws of 1976), the Incorporated Village of Roslyn Harbor, in exercise
of the option granted by Subdivision 7 of § 485-b, hereby
reduces the per centum of the exemption otherwise allowed pursuant
to said section, as follows: the extent of the exemption in the year
one shall be 0% of the increase in assessed value attributable to
any qualified construction, alteration, installation or improvement,
and said zero percentage shall continue to apply to such increase
in assessed valuation in each and every year thereafter.