[Adopted 2-2-1977 by L.L. No. 1-1977]
Pursuant to § 485 of the Real Property
Tax Law, under authority of Article 4-A of the Commerce Law, the City
Assessor is hereby directed to grant to certified business owners
or operators tax exemptions on eligible property, as the same is defined
by the aforesaid statutes. Such exemption shall be granted upon an
application by such owner or operator on the form prescribed by law,
to which there shall be attached a copy of a certificate of eligibility
issued by the New York State Job Incentive Board. Upon a determination
by the Assessor that such application is in proper order, the Assessor
shall determine the assessed value of such exemption in accordance
with the certificate of eligibility and enter such value on the exempt
portion of the assessment roll to the extent provided herein.
Said tax exemption shall be granted to the extent
of 100% of said taxes for a period not to exceed 10 years and only
so long as the certificate of eligibility is renewed or extended by
the Job Incentive Board.
