Town of Chenango, NY Article II Business Investment Exemption

[Adopted 2-23-2005 by L.L. No. 1-2005]

§ 65-5 Purpose.

The purpose of this article is to provide for the reduction of the per centum of the real property tax law exemption provided for in § 485-b, Subdivision 2(a), of the Real Property Tax Law for tax exemption for certain business improvements.

§ 65-6 Applicability.

This article shall be known as the "Business Investment Exemption Law" of the Town of Chenango.

§ 65-7 Definitions.

As used in this article, unless otherwise expressly stated, definitions shall be as set forth in § 485-b of the Real Property Tax Law.

§ 65-8 Reduction of exemption.

The real property tax exemption percentage as set forth in Subdivision 2(a) of § 485-b of the Real Property Tax Law is reduced to 0% as permitted by enactment of local law in accordance with § 485-b, Subdivision 7, of the Real Property Tax Law and there shall be no exemption from tax for business improvements commenced subsequent to adoption of this article.[1]

[1] Editor's Note: Former Art. III, Opt-Out of Exemption for Solar or Wind Energy Systems, adopted 8-1-2016 by L.L. No. 1-2016, which immediately followed this section, was repealed 11-6-2019 by L.L. No. 4-2019.