[Adopted 4-16-1977 by L.L. No. 1-1997; 3-2-1977 approved
at permissive referendum 9-16-1977]
Pursuant to the authority of Subdivision 7 of
§ 485-b of the Real Property Tax Law, the partial exemption
from taxation, special ad valorem levies and service charges provided
by Subdivision 2 of such § 485-b to eligible real property
assessed for Town purposes is hereby reduced as provided herein. The
exemption granted for the first year shall be to the extent of 25%.
Thereafter such exemption shall be reduced and computed for the number
of years set forth herein as follows:
|
Years of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
25%
|
|
2
|
20%
|
|
3
|
15%
|
|
4
|
10%
|
|
5
|
5%
|
|
6
|
0%
|
|
7
|
0%
|
|
8
|
0%
|
|
9
|
0%
|
|
10
|
0%
|
