[Adopted 11-12-1985 by L.L. No. 3-1985]
[Amended 8-11-2008 by L.L. No. 4-2008]
This article is enacted to provide for an adjustment
in the veteran's exemption on real property taxes in the Village of
Depew in the same proportion as the total assessed value has been
increased or decreased under full value assessment. It will provide
veterans with the same percentage of exemption as is presently accorded
under existing law.
The exemption granted pursuant to this article
shall be granted to real property for which an exemption has been
granted pursuant to § 458 of the Real Property Tax Law on
the assessment roll immediately preceding the change in level of assessment,
provided that property is owned by the veteran or by another person
eligible to receive such exemption.
[Amended 8-11-2008 by L.L. No. 4-2008]
An exemption will be granted by the assessing
unit to eligible owners as defined herein if the ratio between the
exemption granted under § 458 of the Real Property Tax Law
and the total assessed value[1] of the real property for which such exemption has been
granted increases or decreases due only to a full value assessment
in the Village of Depew. The amount of the exemption heretofore or
hereafter granted may be increased or decreased in such subsequent
year in the same proportion as the total assessed value has been increased
or decreased. Such adjustments shall be made by the Assessor in the
manner provided in Subdivision 1(3) of § 458 of the Real
Property Tax Law and no application therefor need be filed by or on
behalf of any owner of any eligible property.
The taxes affected by this article will be the
real property taxes levied by the Village of Depew.
This article shall take effect after filing
and publication as required by law.
