[Adopted 2-9-1998 by L.L. No. 1-1998]
This article is enacted pursuant to § 339-y, Subdivision 1(f), of the Real Property Law and § 581, Subdivision 1(c), of the Real Property Tax Law of the State of New York.
From and after the effective date of this article, conversions from a dwelling unit to a condominium as those conversions are defined in § 339-y, Subdivision 1(f), of the Real Property Law and § 581, Subdivision 1(c), of the Real Property Tax Law shall not result in those units being assessed pursuant to § 581, Subdivision 1(a) of the Real Property Tax Law.