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.