The New York State Legislature has adopted, and the Governor
has signed into law, Bill No. 8472-A entitled, "An Act to Amend the
Real Property Tax Law in Relation to Veterans Exemptions and to Repeal
Subdivision 5 of Section 458 of the Real Property Tax Law Relating
Thereto."
The provisions of Real Property Tax Law § 458, as
amended, relative to veterans exemptions, shall apply to Town real
property taxes levied by the Town of Cicero.
Notwithstanding the limitation on the amount of exemption prescribed
in Subdivision 1 or 2 of Real Property Tax Law § 458, if
the total assessed value of the real property for which such exemption
has been granted increases or decreases as the result of a revaluation
or update of assessments, and a material change in level of assessment
is certified for the assessment roll pursuant to the State Board,
the Assessor shall increase or decrease the amount of such exemption
by multiplying the amount of such exemption by such change in level
of assessment.
Owners of property who previously received an exemption pursuant
to § 458 of the Real Property Tax Law but who opted instead
to receive an exemption pursuant to § 458-a of the Real
Property Tax Law are hereby authorized to again receive an exemption
pursuant to § 458 of the Real Property Tax Law upon application
by the owner within one year after the adoption of this article. The
Assessor shall recompute all exemptions granted pursuant to this section
by multiplying the amount of each such exemption by the cumulative
change in level of assessment certified by the State Board of Equalization
and Assessment, measured from the assessment roll immediately preceding
the assessment roll on which exemptions were first granted pursuant
to § 458-a of the Real Property Tax Law; provided, however,
that if an exemption pursuant to this section was initially granted
to a parcel on a later assessment roll, the cumulative change-in-level
factor to be used in recomputing that exemption shall be measured
from the assessment roll immediately preceding the assessment roll
on which that exemption was initially granted. No refunds or retroactive
entitlements shall be granted.
Such adjustments shall be made by the Assessor in the manner
provided in Subdivision 1(3) of § 458 of the Real Property
Tax Law of the State of New York, and no application therefor need
be filed by or on behalf of any owner of any eligible property, except
as otherwise provided therein.