[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.