[Adopted 5-6-1997 by L.L. No. 5-1997; amended in its entirety 1-12-2006 by L.L. No. 1-2006]
A.
Pursuant to Chapter 417 of the Laws of 1997, as amended,
the maximum exemption allowable under Real Property Tax Law §
458-a, Subdivision 2(a), (b) and (c), is increased to $54,000, $36,000
and $180,000, respectively.
B.
The increase in the maximum allowable exemption authorized
by Chapter 417 of the Laws of 1997 shall apply to assessment rolls
prepared on the basis of a taxable status date occurring after January
1, 1998. The increase in the maximum allowable exemption authorized
by Chapter 256 of the Laws of 2005 shall apply to assessment rolls
prepared on the basis of a taxable status date occurring after January
1, 2006.
C.
A Gold Star Parent shall be a qualified owner, and
property owned by a Gold Star parent shall be qualifying residential
real property, under § 458-a of the Real Property Tax Law, as
provided by Chapter 326 of the Laws of 2000.
