[Adopted 12-3-1996 by L.L. No. 1-1997[1] ]
[1]
Editor's Note: This local law superseded former Art. I, Business Investment Exemption, adopted 6-5-1984 by L.L. No. 1-1984, as amended.
A. 
New York State Real Property Tax Law § 485-b grants a business investment exemption.
B. 
The Town of Pendleton, by this article, revokes the business investment exemption permitted by New York State Real Property Tax Law § 485-b and sets the exemption available at 0%.
C. 
This act shall take effect 45 days after its passage subject to a permissive referendum.[1]
[1]
Editor's Note: No valid petition requesting such referendum was filed as of 1-27-1997 in accordance with the applicable provisions of law.