[Adopted 3-1-1995 by L.L. No. 3-1995]
The purpose of this article is to adopt the
provisions of § 458, Subdivision 5 of the Real Property
Tax Law of the State of New York to provide veterans with the same
proportionate share exemption from real property taxation that they
received prior to any change in assessment as a result of any revaluation
or update of assessment.
Notwithstanding the limitations on the amount
of a veteran's exemption contained in § 458, Subdivision
1 and 2 of the Real Property Tax Law of the State of New York, if
the total assessed value of the real property for which a veteran's
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, as provided in Title 2 of Article 12 of the Real Property
Tax Law of the State of New York, is certified for the assessment
roll pursuant to the rules of the State Board, the Town Assessor shall
increase or decrease the amount of such veteran's exemption by multiplying
the amount of such exemption by such change in level of assessment.
If the Town Assessor receives the certification after the completion,
verification and filing of the final assessment roll, the Town 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 veteran's exemption certified by the Town Assessor
on the roll. The provisions of this section of this article may be
applied retroactively to an assessment roll prepared on the basis
of a taxable status date occurring on or after March 1, 1994.
Notwithstanding the provisions of Paragraph
(b) of Subdivision 6 of § 458 of the Real Property Tax Law
of the State of New York, the Town of Carmel hereby authorizes owners
of property who previously received an exemption pursuant to § 458
of the Real Property Tax Law of the State of New York, but who opted
instead to receive an exemption pursuant to § 458-a, to
again receive an exemption pursuant to § 458 upon application
by the owner within one year of the adoption of this article; and
the Town Assessor shall recompute all exemptions granted pursuant
to this provision by multiplying the amount of each such exemption
by the cumulative change in level of assessment certified by the State
Board measured from the assessment roll immediately preceding the
assessment roll on which exemptions were first granted pursuant to
§ 458-a; provided, however, that if an exemption pursuant
to this section was initially granted to a parcel on a later assessment
roll, the cumulative change in level factor to be used in recomputing
that exemption shall be measured from the assessment roll immediately
preceding the assessment roll on which that exemption was initially
granted. No refunds or retroactive entitlements shall be granted.
