The Town Board of the Town of Greece finds that the State of
New York has provided legislative relief to towns in New York State
with respect to the conversion of real property from other forms of
ownership into condominium ownership. Included in that relief is the
right to enact local laws that provide that converted condominiums
should not be assessed and taxed pursuant to the formulas for assessment
and taxation of condominiums set forth in § 339-y(a) of
the Real Property Law and § 581(a) of the Real Property
Tax Law. The Town of Greece wishes to avail itself of this provision
of law.
Real Property Tax Law § 581(a) and Real Property Law
§ 339-y (a), with respect to the assessment and taxation
of condominiums, shall not apply to any condominiums in the Town of
Greece that have been converted into condominium status from any other
form of ownership.
Nothing contained in this article shall be construed to modify
or otherwise change the taxable status of any converted condominium
previously taxed under any previous provision of this article.