[Adopted 10-15-1985 by L.L. No. 1-1985 (Ch. 142, Art. II, of the 1976 Code)]
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.