[Adopted 5-13-1981 by L.L. No. 3-1981]
If the ratio between the exemption granted under
Real Property Tax Law § 458 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 tax district in
which such property is located, the amount of the exemption heretofore
or hereafter granted shall, pursuant to this article, be increased
or decreased in such subsequent year in the same proportion as the
total assessed value has been increased or decreased.
Such adjustment shall be made by the assessors
in the manner provided in paragraph three of subdivision one of Real
Property Tax Law § 458, and no application therefor need
be filled by or on behalf of any owner of any eligible property.
