[Adopted 2-6-1995 by L.L. No. 1-1995[1]]
[1]
Editor's Note: This local law also repealed former Art. II,
Veterans' Exemptions, adopted 12-15-1980 by L.L. No. 15-1980.
The purpose of this article is to provide for the recomputation
of eligible funds for veterans' exemptions following revaluations
and updates in assessments pursuant to the New York Real Property
Tax Law.
[Amended 5-2-2011 by L.L. No. 2-2011]
The meanings of words and expressions as used in this article
shall be identical to their meanings as used in § 458, as
amended, of the Real Property Tax Law of the State of New York.
Notwithstanding the limitation on the amount of exemption prescribed
in Subdivisions 1 or 2 of Real Property Tax Law § 458, 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 the level of assessment
is certified for the assessment roll pursuant to the rules of the
State Board of Equalization and Assessment, the assessor shall increase
or decrease the amount of such exemption by applying such change in
level of assessment. If the 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 exemptions certified by the assessor on the
roll.
