Long Island Lighting Co. v. Board of Assessors

OPINION OF THE COURT

Memorandum.

The order of the Appellate Division should be affirmed, with costs.

Petitioner LILCO instituted these proceedings seeking review of respondents’ denial of its applications for business investment exemptions pursuant to Real Property Tax Law § 485-b. That statute grants a partial business investment tax exemption for "[r]eal property constructed, altered, installed or improved * * * for the purpose of commercial, business or industrial activity” (RPTL 485-b [1]). The tax exemption applies only to "real property used primarily for the buying, selling, storing or…