[Adopted 6-12-1985 as L.L. No. 6-1985 (Ch.
34, Art. II, of the 1978 Code)]
The purpose of this Article is to preserve the
ratio which each veterans 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 meaning of words and expressions as 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: The provisions of said section
expired October 30, 1981 pursuant to section 5 of L. 1978, c. 476;
amended L. 1980, c. 880, § 3; L. 1981, c. 259, § 5.
A.
If the ratio between the exemption granted under § 458
of the Real Property Tax Law of the State of New York and the total
assessed value of real property for which such exemption has been
granted increases or decreases due only to a full value assessment
in the town, 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 Paragraph (3) of Subdivision 1 of such § 458
of the Real Property Tax Law of the State of New York, and no application
therefor need be filed by or on behalf of any owner of any eligible
property.
