If the ratio between an exemption granted under § 458
of the Real Property Tax and the total assessed value of the real
property for which such exemption has been granted increases or decreases
due only to a full value assessment in the tax district in which such
real property is located, the amount of the exemption heretofore or
hereafter granted shall be increased or decreased in such subsequent
year in the same proportion as the total assessed value has been increased
or decreased.
[Added 6-23-1997 by L.L. No. 2-1997]
Pursuant to § 458-a of the Real Property Tax Law,
the home value cap shall be increased to $120,000 for purposes of
determining veterans exemptions.