[Adopted 1-21-2009 by L.L. No. 1-2009]
By the adoption of this chapter, the Village
of South Glens Falls shall exercise its inherent and statutory authority
as provided in § 581(1)(c) of the Real Property Tax Law
and § 339-y(1)(f) of the Real Property Law for the purpose
of removing statutory assessment restrictions from condominium units
that have previously appeared on the assessment roll as a dwelling
unit in other than condominium ownerships.
Provisions of the Real Property Tax Law and
the Real Property Law imposing assessment restrictions upon the assessment
of a condominium shall not apply in the Village of South Glens Falls
to a converted condominium unit in the municipality. A "converted
condominium unit," for the purposes of this section, shall mean 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.