[Adopted 6-23-1982 by L.L. No. 4-1982]
This article is adopted for the purpose of obtaining the benefits and options provided under Article 19, § 1903 of the Real Property Tax Law of the State of New York for those properties designated as the "Homestead Class."
The provisions of Article 19, § 1903 of the Real Property Tax Law are hereby adopted within the Town of Niagara, and all properties shall be classified as "homestead" and "nonhomestead," and base proportions shall be established pursuant to that law and such other rules and regulations of the State Board of Real Property Services.
The provisions of Article 19, § 1903 of the Real Property Tax Law shall be applicable to taxes levied on all assessment rolls filed hereafter and commencing with the 1982 School Tax Assessment Roll and thereafter, until such time as the Town Board or the Town of Niagara shall determine, by local law, that the provisions of Article 19 shall not be applied.
The Town Board shall, by resolution, establish a homestead base proportion pursuant to § 1903, Subdivision 2, of the Real Property Tax Law and the rules of the State Board of Real Property Services.