[Adopted 11-6-1995 by L.L. No. 3-1995]
The purpose of this article is to maintain the ratio of the amount of the veterans exemption to the assessed valuation of property on which the exemption was granted when the ratio may change as a result of a revaluation or update of assessments, as authorized by Subdivision 5(a) of § 458 of the Real Property Tax Law, and to permit veterans to reapply for the exemption under Real Property Tax Law § 458 as authorized by Subdivision 5(b) of § 458 of the Real Property Tax Law.
If the total assessed value of real property for which an exemption has been granted pursuant to § 458 of the Real Property Tax Law has been increased or decreased as a result of a revaluation or update of assessments in the Village of Perry and a material change in level of assessment has been certified by the State Board of Real Property Services for the assessment roll on which such property is assessed, the Assessor shall increase or decrease the amount of such exemption by multiplying the amount of such exemption by such change in level of assessment.
In accordance with Subdivision 5(a) of § 458 of the Real Property Tax Law, if the Assessor receives the certification from the State Board after the final assessment roll has been filed, the Assessor shall certify the amount of the recomputed exemption to the officer having custody and control of the roll who is directed and authorized by such statute to enter the recomputed exemption on the roll.
A veteran who had received an exemption under § 458 of the Real Property Tax Law and who had opted for the alternate exemption of § 458-a of such law may reapply for the exemption under § 458 as authorized by Subdivision 5(b) of § 458 if such veteran applies by June 30, 1996.
This article shall be filed with the Secretary of State and shall first be effective on the Village tax rolls for the year 1997.