In accordance with the provisions of the Real Property Tax Law, § 1903, the State Board of Equalization and Assessment has computed and certified an adjusted homestead base proportion of 67.84632 for the City of Beacon. The State Board of Equalization and Assessment has also computed and certified in accordance with the provisions of the Real Property Tax Law, § 1905, a current percentage provided to the chief executive officer of the approved assessing unit for the City of Beacon which equals the percentage that the estimated taxable market value of the homestead class constitutes of the total estimated taxable market value of all real property in the City of Beacon. This adjusted homestead base proportion and current percentage shall be used to determine the locally adjusted homestead proportion as authorized in §
199-7 of this article.
In accordance with the provisions of Real Property
Tax Law, § 1903, Subdivision 2(a)(ii), the multiplication
factor to be utilized in computing the locally adjusted homestead
proportion shall be 75%. Pursuant to the formula set forth in that
section, the adjusted homestead base proportion of 67.84632 is hereby
altered to 68.89. This locally adjusted proportion for the City of
Beacon shall be used for the purpose of the Real Property Tax Law,
§ 1903, until a new adjusted homestead base proportion is
certified by the State Board of Equalization and Assessment.