[Adopted 3-13-1995 by L.L. No. 1-1995]
The New York State Legislature has adopted, and the Governor
has signed into law, Bill Number 8472-A, entitled, "An Act to Amend
the Real Property Tax Law, in Relation to Veterans Exemptions, and
to Repeal Subdivision 5 of Section 458 of the Real Property Tax Law,
Relating Thereto."
The provisions of Real Property Tax Law § 458, as
amended, relative to veterans exemption, shall apply to real property
taxes levied by the Town of Marcellus.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
Notwithstanding the limitation on the amount of exemption prescribed
in Subdivision 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 level of assessment
is certified for the assessment roll pursuant to the rules of the
Commissioner of Taxation and Finance, the Assessor shall increase
or decrease the amount of such exemption by multiplying the amount
of such exemption by 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
exemption certified by the Assessor or roll.[1]
[1]
Editor's Note: Here followed original Section 4 of this local
law, regarding owners of property who opted to receive exemption pursuant
to § 458-a, which applied for a one-year period following
the adoption of this local law.
This article shall be applied retroactively to an assessment
roll prepared on the basis of a taxable status date occurring on or
after March 1, 1995.
