[Adopted 11-19-1976 by L.L. No. 3-1976; amended in its entirety 12-17-1976 by L.L. No.
5-1976]
Section 485-b of the Real Property Tax Law of the State of New
York, entitled "Business Investment Exemption," provides exemptions
from taxation, ad valorem levies and service charges for certain commercial,
business or industrial properties in the same manner therein provided
and authorizes a Village, by local law, to reduce the percent of exemption
otherwise allowed pursuant to such section.
The Village of Quogue, New York, does hereby reduce the percent
of exemption otherwise allowed under § 485-b of the Real
Property Tax Law of the State of New York to zero, the intent being
to make the exemptions set forth in said § 485-b inapplicable
in the Village of Quogue.
