Pursuant to Subdivision 2(b) of § 458-b of the Real
Property Tax Law, the Town of East Bloomfield hereby adopts the qualifying
residential real property exemption under Subdivision 2(b) of § 458-b
of the New York State Real Property Tax Law, that is, an exemption
in the amount equal to the extent of the product of the assessed value
of such property, multiplied by 50% of the Cold War veteran disability
rating; provided, however, that such exemption, as permitted by Subdivision
2(c)(iii) shall not exceed $20,000 or the product of $20,000 multiplied
by the latest state equalization rate for the assessing unit.
This article shall take effect immediately upon its filing with
the Secretary of State and shall be applicable to all assessment rolls
prepared pursuant to the first taxable status date occurring on or
after the effective date of this article.