[Adopted 2-5-1997 by L.L. No. 2-1997]
This article will be known as the "Veterans Exemptions Law." The intent of this article is to provide for an increase or decrease in the amount of veterans exemptions pursuant to Real Property Tax Law (RPTL) § 458 whenever the total assessed value of real property for which an exemption has been granted increases or decreases as a result of a reevaluation or update of assessments and a material change in level of assessment is certified for the assessment roll pursuant to the rules of the State Board of Assessment, to permit property owners who formerly received a veterans exemption pursuant to RPTL § 458-a to be able to once again receive exemption pursuant to RPTL § 458, and to increase the amount of exemptions granted to veterans pursuant to RPTL § 458-a.
This article is enacted pursuant to the authority granted by RPTL §§ 458 and 458-a.
Notwithstanding the limitation on the amount of the veterans exemptions prescribed in Subdivision 1 or 2 of RPTL § 458, if the total assessed value of real property for which a veterans' exemption pursuant to RPTL § 458 has been granted increases or decreases as the result of a reevaluation or update of assessments, and a material change in level of assessment, as provided in Title 2 of Article 12 of the RPTL, is certified for the assessment roll pursuant to the rules of the State Board of Assessment, the Town Assessor shall increase or decrease the amount of such exemption by multiplying the amount of such exemption by the change in level of assessment factor. If the Town Assessor receives the certification after the completion, verification and filing of the final assessment roll, the Town Assessor shall certify the amount of exemption as recomputed to the town officers having custody and control of the roll, and such town officers are hereby directed and authorized to enter the recomputed exemption certified by the Town Assessor on the roll.
Owners of property in the town who previously received an exemption pursuant to RPTL § 458, but who opted instead to receive exemption pursuant to RPTL § 458-a, may again receive an exemption pursuant to RPTL § 458 upon application by the owner.
The maximum exemptions allowable in Paragraphs (a), (b) and (c) of Subdivision 2 of RPTL § 458-a are increased to $18,000, $12,000 and $60,000, respectively.
This article shall take effect immediately after it is filed in the office of the Secretary of State and the office of the Town Clerk for the Town of Plattekill.