[Adopted 2-3-1998 by L.L. No. 2-1998 (Ch. 218, Art. III, of the 2003 Code)]
A. 
The provisions of Paragraph (a) of Subdivision 1 of § 581 of the Real Property Tax Law shall not apply to converted condominiums in the Town of Thompson other than a special assessing unit.
B. 
The provisions of Paragraph (b) of Subdivision 1 of § 339-y of the Real Property Law shall not apply to converted condominiums in the Town of Thompson other than a special assessing unit.
For the purposes of this article, "converted condominium" shall be a dwelling unit held in condominium form of ownership that has previously been on an assessment roll as a dwelling unit in other than condominium form of ownership and has not been previously subject to the provisions of Paragraph (a) of Subdivision 1 of § 581 of the Real Property Tax Law or Paragraph (b) of Subdivision 1 of § 339-y of the Real Property Law, as the case may be.