Pursuant to the provisions of § 458-5 of the Real
Property Tax Law of the State of New York with regard to the veterans'
real property tax exemption, if the total assessed value of the real
property for which such exemption has been granted increases or decreases
as the result of a revaluation or update of assessments, and a material
change in level of assessment is certified for the assessment roll
pursuant to the Rules of the State Board of Real Property Services,
the Village Assessor shall increase or decrease the amount of such
exemption by multiplying the amount of such exemption by the change
in level of assessment factor. If the Village Assessor receives the
certification after the completion, verification and filing of the
final assessment roll, the Assessor shall certify the amount of exemption
as recomputed pursuant to this section to the local officers having
custody and control of the roll, and such local officers are hereby
directed and authorized to enter the recomputed exemption certified
by the Assessor on the roll.
This article shall take effect in accordance with § 27
of the Municipal Home Rule Law and shall apply to tax assessment rolls
prepared on the basis of taxable status dates occurring on or after
January 1, 2010.