[Adopted 9-13-1994 by L.L. No. 4-1994
(Ch. 54, Art. III, of the 1974 Code)]
This article shall be known as the "Veterans
Exemption Law of the Town of Geddes."
The purpose of this article is to adopt the
provisions of § 458, as amended, of the Real Property Tax
Law of the State of New York.
The provisions of Real Property Tax Law § 458,
as amended, relative to veterans exemptions shall apply to town real
property taxes levied by the Town of Geddes.
A.
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
State Board, 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 subsection to the local officer having custody and
control of the roll, and such local assessor is hereby directed and
authorized to enter the recomputed exemption certified by the Assessor
on the roll.
B.
Owners of property who previously received an exemption
pursuant to this section, but opted instead to receive exemption pursuant
to § 458-a within one year from the adoption of this article,
are hereby authorized to again receive an exemption pursuant to this
section. The Assessor shall recompute all exemptions granted pursuant
to this section 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 late assessment roll, the cumulative
change in level factor to be used in recomputing the exemption shall
be measured from the assessment roll immediately preceding the assessment
roll on which that exemption was initially granted. No refund or retroactive
entitlement shall be granted.
C.
Such adjustments shall be made by the Assessor in
the manner provided in § 458, Subdivision 1(3), of the Real
Property Law of the State of New York, and no application, therefore,
need be filed by or on behalf of any owner of any eligible property.
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, 1994.
