[Adopted 12-17-1976 by L.L. No. 12-1976 (Ch. 55, Art. II, of the 1976 Code)]
[Amended 4-9-1991 by L.L. No. 1-1991; 8-13-1996 by L.L. No.
1-1996]
The purpose of this article is to provide for
the establishment of the real property tax exemption provided for
in § 485-b, Subdivision 2(a), of the Real Property Tax Law.
[Amended 8-13-1996 by L.L. No. 1-1996]
This Article shall hereinafter be known and
cited as the "Tax Exemption Law."
[Amended 4-9-1991 by L.L. No. 1-1991]
As used in this article, unless otherwise expressly
stated, definitions shall be as set forth in § 485-b of
the Real Property Tax Law.
[1]
Editor's Note: Former § 126-6, Repeal
of exemption, was repealed 8-13-1996 by L.L. No. 1-1996.
[Amended 8-13-1996 by L.L. No. 1-1996]
The real property tax exemption percentage,
as set forth in Subdivision 2(a) of § 485-b of the Real
Property Tax Law be and the same, pursuant to Subdivision 7 of said
Real Property Tax Law, thereof, is hereby increased from zero percentage
0% to the maximum allowed by Subdivision 2 of § 485-b of
the Real Property Tax Law of the State of New York.
