Pursuant to the authority and provisions of
Subdivision 4 of § 458-a of the Real Property Tax Law of
the State of New York, the Town of Ithaca hereby repeals Local Law
No. 1 for the year 1985 adopted by the Town Board of the Town of Ithaca
entitled "A Local Law Not To Have the Exemption of § 458-a
of the Real Property Tax Law Apply to the Town of Ithaca."
By adoption of this article repealing Local
Law No. 1 of the year 1985 the Town of Ithaca hereby elects to have
the exemption permitted pursuant to § 458-a of the Real
Property Tax Law in the maximum amount permitted by such law.