[Adopted 5-5-1981 by L.L.
No. 1-1981]
The purpose of this article is to preserve the ratio which each
veterans exemption from taxation on real property bears to the total
assessed value of the real property for which such exemption has been
granted whenever such total assessed value increases or decreases
due only to a change in the manner of assessing.
The meanings of words and expressions as used in this article
shall be identical to their meanings as used in §§ 307
and 458, as amended, of the Real Property Tax Law of the State of
New York.
A.
If the ratio between the exemption granted under Subdivision 1 of
§ 458 of the Real Property Tax Law of the State of New York
and the total assessed value of the real property for which such exemption
has been granted increases or decreases due only to a change in the
manner of assessing, other than a court ordered full value assessment,
in the Town, the amount of the exemption heretofore or hereafter granted
shall be increased or decreased in such subsequent year in the same
proportion as the total assessed value has been increased or decreased.
B.
Such adjustment shall be made by the Assessors in the manner provided
in Paragraph 3 of Subdivision 1 of § 458 of the Real Property
Tax Law of the State of New York, and no application therefor need
be filed by or on behalf of any owner of any eligible property.
If any part of this article shall be found invalid, such invalidity
shall apply only to such part, and the remainder of this article shall
remain valid and effective.
All local laws or ordinances or parts of local laws or ordinances
in conflict with any part of this article are hereby repealed.
This article shall take effect immediately.
