[Adopted 5-21-2019 by L.L. No. 5-2019; amended in its entirety 5-21-2019 by L.L. No. 8-2019]
Pursuant to § 581(1) of the NYS Real Property Tax Law and § 339-y(1) of the NYS Real Property Law, the Town Board hereby enacts this article for the purpose of preventing lower assessments for converted condominiums.
For purposes of this article, the following term shall have the following meaning:
CONVERTED CONDOMINIUM UNIT
A dwelling unit held in condominium form of ownership that has previously been on an assessment roll as a dwelling unit other than condominium form of ownership and has not been previously subject to the provisions of § 581(1) of the NYS Real Property Tax Law and § 339-y(1) of the NYS Real Property Law.
Neither Subdivision (1) of § 581 of the NYS Real Property Tax Law nor Subdivision (1) of § 339-y(1) of the NYS Real Property Law shall apply to any converted condominium unit in the Town of Guilderland.