[Adopted 2-28-1983 by L.L. No. 1-1983]
The Town Board finds that the assessed value of real property
in the Town on the 1982 assessment roll increased due to a change
in the manner of assessing, from fractional value assessments on the
1981 assessment roll to full value assessments on the 1982 roll. This
increase resulted in reducing the benefit to taxpayers of the exemptions
previously granted pursuant to § 458 of the Real Property
Tax Law.
In order to correct this inequity and restore such exemptions
to the same relative value as they had on the 1981 assessment roll,
the Assessor is hereby authorized and directed to increase the § 458
exemptions as they existed prior to May 1, 1982, so that, in each
case, the revised exemption bears the same ratio to the current assessed
value as the § 458 exemption bore to the assessed value
on the 1981 roll, all as provided in Subdivision 5 of § 458
of the Real Property Tax Law.
