This Article shall be known and may be cited
as the "Taxation — -Homestead Base Proportion Law
of the Village of Lake Success."
The provisions of § 1903 of the Real
Property Tax Law of the State of New York are hereby adopted by the
Village of Lake Success.
The Village Board of Trustees of the Village
of Lake Success is hereby authorized to determine and establish a
homestead base proportion, by resolution, for all assessment rolls
finally filed and applicable to the levy of all taxes levied thereon
for each tax year subsequent to the effective date of this Act and
commencing with the first assessment roll finally filed subsequent
to the effective date of this Act, in accordance with the provisions
of Article 19 of the Real Property Tax Law and the rules of the New
York State Board of Equalization and Assessment.