Editor's Note: This local law provided that
these amounts would go into effect beginning March 1, 2000, and that
the aforesaid amounts shall not exceed the above stated amount, or
the product of the above stated amount multiplied by the latest state
equalization rate for the assessing unit or, in the case of a special
assessing unit, the latest class ratio, whichever is less.
Pursuant to the authority of Subdivision 2(d)
of § 458-a of the Real Property Tax Law, the amount of exemption
provided by Subdivisions 2(a), (b) and (c) is hereby reduced as follows:
2(a): $15,000; 2(b): $10,000; and 2(c): $50,000.