[Adopted 1-5-1987 by L.L. No. 2-1987 (Ch.
124 of the 1987 Code)]
City of Lackawanna Local Law No. 1-1977, is
hereby repealed in its entirety.
Pursuant to the authority of Subdivision 7 of
§ 485-b of the Real Property Tax Law of the State of New
York, the partial exemption from taxation, special ad valorem levies
and service charges provided by said § 485-b is hereby deemed
to be adopted by the City of Lackawanna insofar as such exemption
is applicable to eligible businesses in the City of Lackawanna.
Pursuant to the authority of Subdivision 7 of
§ 485-b of the Real Property Tax Law of the State of New
York, the following schedule as referenced in said § 485-b,
pertaining to partial exemption from taxation, special ad valorem
levies and service charges, is hereby deemed to be adopted:
|
Year of Exemption
|
Percentage of Exemption
|
|---|---|
|
1
|
50%
|
|
2
|
45%
|
|
3
|
40%
|
|
4
|
35%
|
|
5
|
30%
|
|
6
|
25%
|
|
7
|
20%
|
|
8
|
15%
|
|
9
|
10%
|
|
10
|
5%
|
