[Adopted 10-30-1976 by resolution]
The Town of Albion shall allow the full exemption for business investment as provided for in § 485-b of the Real Property Tax Law of the State of New York, without reduction.
The Assessor of the Town of Albion shall grant such exemptions upon proper application from various property owners within the Town and upon his satisfaction that the applicant is entitled to such exemption.
All proceedings concerning such exemption shall be as provided for in § 485-b of the Real Property Tax Law of the State of New York, as amended, and such regulations as may be from time to time adopted by the State of New York or its authorized agents.