[Adopted 2-12-2003 by L.L. No. 1-2003]
In accordance with the provisions of § 458 of the
Real Property Tax Law, upon the 2003 revaluation of all the lands
in the Town of Colton which will result in a material change in the
level of assessment, all veterans who had an exemption pursuant to
eligible funds exemption on the 2002 tax roll shall have their exemption
increased by multiplying the amount of such exemption by such change
in the level of assessment.
[Added 10-8-2014 by L.L.
No. 2-2014]
An increase or decrease to each existing eligible veterans § 458(1)
or § 458(2) veteran in proportion to the "change in level"
of all assessments resulting from a revaluation or update of assessment.
And if a material change in level is certified for the assessment
roll by the Office of Real Property Services, such increase or decrease
is to be computed as described as calculation of exemption under Real
Property Tax Law § 458(5)("current change in level").
[Added 10-8-2014 by L.L.
No. 2-2014]
This article shall conform to state law.
[Added 10-8-2014 by L.L.
No. 2-2014]
This article dhall take effect for the 2015 assessment roll.
