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Council hears review of Industrial Commercial Incentive Board and local use of NY Real Property Tax Law §485‑b
Summary
Supervisor Tony Veach briefed council members on the board’s review of the city’s use of the New York State real property tax law section 485‑b, which allows municipalities to adopt exemptions for qualifying businesses; the board proposes process and eligibility adjustments to increase use of the exemption.
Supervisor Tony Veach explained the Industrial Commercial Incentive Board has reviewed the city’s existing 4‑85‑b ordinance and is considering changes to make the exemption more accessible and visible to potential applicants.
Veatch (recorded in the meeting as Supervisor Veach) said Section 485‑b of the New York State Real…
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