The Suffolk County Legislature enacted by local law an amendment to Chapter 458 (Taxation), Article
XI, creating a targeted business investment real property tax exemption. Pursuant to the provisions of New York State Real Property Tax Law § 485-b(11), a Town may opt out of the restricted exemptions enacted by the county by local law. The Town Board of the Town of Babylon has determined that it is in the best interest of the Town to maintain the status quo and continue to utilize the business investment exemption pursuant to the schedule set forth in Real Property Tax Law § 485(b)(2)(a)(iii). In furtherance of this objective, the Town Board hereby enacts the following article pursuant to the authority provided under Real Property Tax Law § 485(b)(ii).