This article shall be known as the "Property
Tax Assessments for Converted Condominiums Local Law of the Town of
Brighton."
It is the purpose and intent of this article
to implement legislation which amends § 581, Subdivision
1(c), of the Real Property Tax Law and § 339-y, Subdivision
1, of the Real Property Law of the State of New York to remove the
restrictions of § 581, Subdivision 1(a) of the Real Property
Tax Law that requires that the sum of the assessed valuations of individual
converted condominium units not exceed the assessed value of the complex
valued as a single entity.
The amendments to the Real Property Tax Law
and the Real Property Law of the State of New York, which added a
new § 581, Subdivision 1(c), to the Real Property Tax Law
and a new § 339-y, Subdivision 1(f), to the Real Property
Law, are hereby adopted by the Town Board effective for assessment
rolls prepared on the basis of taxable status dates occurring on or
after the effective date of this article.