[Adopted 5-29-1984 as L.L. No. 4-1984]
The purpose of this article shall be to provide
for the preservation of the veterans exemption in connection with
taxation on real property in respect to the ratios thereof in the
event of the change in the manner of assessing in accordance with
§ 458, Subdivision 5(b), of the New York State Real Property
Tax Law.
Pursuant to the provisions of § 458
of the New York State Real Property Tax Law as heretofore adopted
by the Legislature of the State of New York, the purpose of this article
is to preserve the ratio which each veterans exemption from taxation
on real property bears to the total assessed value of real property
for which such exemption has been granted, whenever such total assessed
value increases or decreases due only to a change in the manner of
assessing.
The meanings of words and expressions as used
in this article shall be identical to their meanings as used in § 458
of the Real Property Tax Law of the State of New York.
If the ratio between the exemption granted under
§ 458, Subdivision 1, of the Real Property Tax Law of the
State of New York and the total value of assessed property for which
such exemption has been granted increases or decreases due only to
a change in the manner of assessing in the Town of Malta, the amount
of the exemption heretofore or hereafter granted shall 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 Assessor in a manner provided in Subdivision
1(3) of § 458 of the Real Property Tax Law of the State
of New York, and no application therefore need be filed by or on behalf
of any owner of any eligible property.
The veterans exemption provided by § 458
of the Real Property Tax Law shall be increased or decreased in proportion
that the assessed valuation of real property on which the exemption
has been granted is increased or decreased due to full value assessments
in the Town of Malta.
Insofar as the provisions of this article are
inconsistent with the provisions of any other local law or act, the
provisions of this article shall be controlling.
