[Adopted 2-25-1991 by L.L. No. 1-1991; amended in its entirety 2-23-2005 by L.L. No.
1-2005]
Pursuant to the provisions of New York State Real Property Tax
Law § 458-a, Subdivision 2, the maximum exemption allowable
pursuant to Real Property Tax Law § 458-a, Subdivision 2(a)
shall be $27,000, the maximum exemption allowable pursuant to Real
Property Tax Law § 458-a, Subdivision 2(b), shall be $18,000,
and the maximum exemption allowable under Real Property Tax Law § 458-a,
Subdivision 2(c), shall be $90,000.
This article shall take effect immediately upon filing with
the office of the Secretary of State and shall apply to qualifying
residential real property and qualified owners who have applied for
and been granted exemptions in accordance with Real Property Tax Law § 458-a
commencing with the assessment roll prepared for the Village of Lake
Placid for taxable status date of March 1, 2005, and thereafter.
