[Adopted 8-20-1985 by L.L. No. 2-1985]
This article shall be known as the "Veterans
Proportional Exemption Law of the Village of Clayton."
The purpose of this article is to preserve the
ratio which each veteran's exemption from taxation on real property
bears to the total assessed value of the real property for which such
exemption has been granted whenever such total assessed value increases
or decreases due only to a change in the manner of assessing.
The meanings of words and expressions used in
this article shall be identical to their meanings as used in §§ 307[1] and 458, as amended, of the Real Property Tax Law of the
State of New York.
[1]
Editor's Note: Section 307 of the Real Property
Tax Law expired 10-30-1981.
A.
If the ratio between the exemption granted under Subdivision
1 of § 458 of the Real Property Tax Law of the State of
New York and the total assessed value of the real property for which
such exemption has been granted increases or decreases due only to
a change in the manner of assessment, other than a court-ordered full-value
assessment in the Village of Clayton, the amount of the exemption
heretofore or hereafter granted shall be increased or decreased in
such subsequent year in the same proportion as the total assessed
value has been increased or decreased.
B.
Such adjustment shall be made by the Assessors in
the manner provided in Subdivision 3 of § 458 of the Real
Property Tax Law of the State of New York, and no application therefor
need be filed on behalf of any owner of any eligible property.
