Pursuant to the provisions of § 458-5
of the Real Property Tax Law of the State of New York with regard
to the veterans real property tax exemption, if the total assessed
value of the real property for which such exemption has been granted
increases or decreases as the result of a revaluation or update of
assessments, and a material change in level of assessment is certified
for the assessment roll pursuant to the Rules of the State Board of
Real Property Services, the Village Assessor shall increase or decrease
the amount of such exemption by multiplying the amount of such exemption
by the change in level of assessment factor. If the Village Assessor
receives the certification after the completion, verification and
filing of the final assessment roll, the Assessor shall certify the
amount of exemption as recomputed pursuant to this section to the
local officers having custody and control of the roll, and such local
officers are hereby directed and authorized to enter the recomputed
exemption certified by the Assessor on the roll.