[Adopted 9-30-1976 as L.L. No. 14-1976, effective 10-5-1976]
Pursuant to Real Property Tax Law § 485-b, Subdivision 7 (Laws of 1976, Chapter 278), the per centum of exemption otherwise allowed by Real Property Tax Law § 485-b, as indicated by § 485-b, Subdivision 2(a), thereof, is reduced for all years to zero, and no exemption from taxation, special ad valorem levies and service charges shall apply to any real property constructed, altered, installed or improved for purposes of commercial, business or industrial activity.