[Adopted 4-13-1981 by L.L. 8-1981]
A.
If the ratio between the veterans exemption granted
under Real Property Tax Law § 458 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
district(s) of the Town of Clifton Park, the amount of the exemption
heretofore or hereafter granted under Real Property Tax Law § 458
shall be increased or decreased in such subsequent year in the same
proportion as the total assessed value has been increased or decreased.
B.
If, on the date of the adoption by the Town of Clifton
Park of full value assessment, no ratio existed between a veterans
exemption granted under Real Property Tax Law § 458 and
the then assessed value of the subject real property, the amount of
veterans exemption otherwise allowed under Real Property Tax Law § 458
shall be increased by an amount computed by dividing the amount of
the veterans exemption allowed under Real Property Tax Law § 458
by the equalization rate established by the New York State Board of
Equalization and Assessment for the Town of Clifton Park from the
last fractional assessment roll.
[1]
Editor's Note: Section 1 of L.L. No. 7-1985
stated that the purpose of said local law is to preserve veterans'
exemptions heretofore granted under L.L. No. 8-1981 and L.L. No. 4-1982
and to adopt the provisions of Chapter 525 of the Laws of 1984 of
the State of New York, now § 458 of the Real Property Tax
Law.
[Added 4-22-1985 by L.L. 7-1985[1]]
Where property which is owned by a veteran and
receiving an exemption pursuant to this article or Real Property Tax
Law § 458 is sold and other real property is acquired to
replace the formerly owned property, the exempt amount granted on
the formerly owned property and as expressed in a percentage shall
be granted on the property acquired to replace the formerly owned
property, provided that the newly acquired property is in the Town
of Clifton Park and provided, further, that the exemption granted
on the newly acquired property shall not exceed the exemption of the
formerly owned property, as expressed in a dollar amount.
[1]
Editor's Note: Section 1 of L.L. No. 7-1985
stated that the purpose of said local law is to preserve veterans'
exemptions heretofore granted under L.L. No. 8-1981 and L.L. No. 4-1982
and to adopt the provisions of Chapter 525 of the Laws of 1984 of
the State of New York, now § 458 of the Real Property Tax
Law.
The Assessor(s) shall make such increases or
decreases in the veterans exemption in the manner provided in Real
Property Tax Law § 458, Subdivision 1(3), and no application
therefor need be filed by or on behalf of any owner of any eligible
property.
[Added 4-22-1985 by L.L. 7-1985[1]]
In lieu of receiving an exemption pursuant to
this article or Real Property Tax Law § 458, the owner may
apply for an alternate exemption pursuant to Real Property Tax Law
§ 458-a.
[1]
Editor's Note: Section 1 of L.L. No. 7-1985
stated that the purpose of said local law is to preserve veterans'
exemptions heretofore granted under L.L. No. 8-1981 and L.L. No. 4-1982
and to adopt the provisions of Chapter 525 of the Laws of 1984 of
the State of New York, now § 458 of the Real Property Tax
Law.
