Pursuant to authority conferred by NYS Real
Property Tax Law § 458(5)(d), the Town of Rotterdam, should
it file a change in level of assessment, may grant to every veteran
who is entitled to any additional eligible funds a recomputed exemption
in lieu of the exemption otherwise authorized by NYS Real Property
Tax Law § 458(5)(d). Such recomputed exemption may be granted
on any change in level of assessment roll filed after the effective
date of this article.
As used in this article, the following terms
shall have the meanings indicated:
RECOMPUTED EXEMPTION
The sum of the original exemption and any additional eligible
funds received multiplied by the change in level of assessment from
the assessment roll in the year the exemption was originally granted.