[Adopted 12-14-1976 by L.L. No. 1-1977]
The per centum of exemption allowed pursuant to § 485-b of the Real Property Tax Law of the State of New York as regards real property located in the Village of Medina, New York, is hereby reduced to 0% for each of the 10 years described in Subdivision 2(a) of said § 485-b of the Real Property Tax Law of the State of New York so that said Subdivision 2(a) of said § 485-b of said Real Property Tax Law of the State of New York as it effects and applies to real property situate in the Village of Medina, New York, shall read as follows:
2. (a) Such real property shall be exempt for a period of 1 year to the extent of 0% of the increase in assessed value thereof attributable to such construction, alteration, installation or improvement and for an additional period of 9 years; provided, however, that the extent of such exemption shall be decreased by 0% each year during such additional period of 9 years. The following table shall illustrate the computation of the tax exemption:
Year of Exemption
Percentage of Exemption
1
0
2
0
3
0
4
0
5
0
6
0
7
0
8
0
9
0
10
0