It is the purpose and intent of this article
to implement legislation, S-8472-A, signed into law by the Governor
of the State of New York, which amends § 458, Subdivision
5, of the Real Property Tax Law of the State of New York to direct
the Town Assessor to adjust the amount of the eligible funds veterans
exemption based upon reassessment of property within the Town and
to permit veterans who had converted from the eligible funds veterans
exemption to the alternative veterans exemption as a result of revaluation
to change back to the eligible funds veterans exemption and obtain
the benefits of the amended provision of the Real Property Tax Law.
The Town Board of the Town of Brighton hereby
recognizes that the total assessed value of the real property for
which an exemption has been granted pursuant to Subdivision 1 or 2
of § 458 of the Real Property Tax Law has increased as the
result of a revaluation and a material change in the level of assessment
has been or will be certified for the assessment roll of the Town
of Brighton pursuant to the rules of the State Board of Equalization
and Assessment.
The Assessor of the Town of Brighton is hereby directed to increase or decrease the amount of the eligible funds veterans exemption by multiplying the amount of such exemption by the change in level of assessment, as determined by the Assessor, and certified as set forth in §
174-14 of this article.
This article shall be applied retroactively to the assessment roll prepared on the basis of the taxable status date of March 1, 1994, subject to the provisions of §
174-16A hereof.