[Adopted 12-8-1976 by L.L. No. 3-1976]
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.