Pursuant to the authority granted by Chapter
625 of the Laws of 1995, the City of Glen Cove hereby enacts a local
law to allow the adjustment of veterans exemptions under Real Property
Tax Law § 458(1) or 458(2) in proportion to the change in
level of assessments resulting from a revaluation or update.
This article shall take effect May 1, 2001,
and shall apply to assessment rolls prepared on the basis of taxable
status dates occurring on or after such effective date.