This article shall apply to tax exemptions granted to persons
65 years of age or older pursuant to § 467 of the Real Property
Tax Law of the State of New York and is enacted pursuant to § 467,
Subdivision 8, of said Law.
In the event that the owner or all of the owners of property
which has received an exemption pursuant to § 467 of the
Real Property Tax Law on the preceding assessment roll fail(s) to
file the application required to continue the exemption on or before
the taxable status date, such owner or owners may file the application
executed as if such application had been filed on or before the taxable
status date with the Assessor on or before the date for the hearing
of complaints.