[Adopted 11-15-1976 by L.L. No. 8-1976]
[Amended 5-20-2013 by L.L. No. 2-2013]
A. 
As provided in Subdivision 7 of § 485-b of the Real Property Tax Law, the exemption table set forth in Subdivision 2(a) of that section shall be amended to read as follows:
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%
B. 
The above exemptions apply only to construction, alteration, installation or improvement of commercial business or industrial properties, which construction, alteration, installation or improvement has a minimum expenditure of $10,000.00.
This article shall take effect immediately as provided in the Municipal Home Rule Law, and an additional copy shall be filed with the State Board of Equalization and Assessment.