[Adopted 11-27-2007 by L.L. No. 14-2007]
An article to prevent lower assessments of converted condominiums pursuant
to § 581 of the Real Property Tax Law and § 339-y of the
Real Property Law.
This article is adopted pursuant to Chapter 293 of the Laws of New York,
1997, for the purpose of preventing lower assessments of converted condominiums.
Neither Paragraph (a) of Subdivision (1) of § 581 of the Real
Property Tax Law nor Paragraph (b) of Subdivision (1) of § 339-y
of the Real Property Law shall apply to any converted condominium unit in
the Village of Piermont.
For the purpose of this article, "converted condominium unit" shall
mean a dwelling unit held in condominium form of ownership that has previously
been on a assessment roll as a dwelling unit in other than condominium form
of ownership and has not been previously subject to the provisions of § 581(1)(a)
of the Real Property Tax Law or § 339-y(1)(b) of the Real Property
Law.
