As provided in Subdivision 7 of § 485-b of the Real Property Tax Law, as adopted by Chapter 278 of the Laws of 1976, the exemption table set forth in Subdivision 2(a) of that section shall be amended to read as follows:
Year of Exemption | Percentage of Exemption |
|---|---|
1 | 20 |
2 | 18 |
3 | 16 |
4 | 14 |
5 | 12 |
6 | 10 |
7 | 8 |
8 | 6 |
9 | 4 |
10 | 2 |