[Adopted 1-7-1985 by L.L. No. 1-1985]
Section 485-b of the Real Property Tax Law provides
for a percentage of exemption from taxation for certain real property,
as defined in such section.
Section 485-b, Subdivision 7, authorizes a town,
by local law, to reduce the per centum of exemption otherwise allowed
pursuant to that law.
The per centum of exemption to be allowed hereafter
pursuant to Real Property Tax Law § 485-b shall be zero.
