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.