[Adopted 2-19-1998 by L.L. No. 1-1998; amended in its entirety 12-31-1998 by L.L. No. 4-1998]
The provisions of § 1903 of the Real Property Tax Law are hereby adopted.
The homestead base proportion and the nonhomestead base proportion shall be established by the Common Council upon the City's certification as an approved assessing unit pursuant to § 1902 of the Real Property Tax Law and shall apply to taxes levied on the 1998 final assessment roll and to taxes levied on subsequent rolls.
The purpose of this article is to allow local adjustment to the homestead and nonhomestead base proportions for the City of Albany and for the City School District of Albany in accordance with § 1903 of the Real Property Tax Law.
[Amended 6-3-2002 by L.L. No. 4-2002; 9-15-2008 by L.L. No. 6-2008; 11-4-2013 by L.L. No. 4-2013; 2-5-2018 by L.L. No. 1-2018]
This article shall cease to have force and effect and shall not apply to taxes levied on the 2023 final assessment roll and to taxes levied on subsequent rolls.