[Adopted 3-10-1998 by L.L. No. 1-1998]
Pursuant to the authority granted by Chapter 293 of the Laws of 1997, the Town of Sweden hereby acts by local law, not subject to referendum, to provide that the provisions of § 581(1) of the Real Property Tax Law and § 339-y of the Real Property Law shall not apply to converted condominium units within the Town of Sweden. A converted condominium unit for purposes of this article shall mean a dwelling unit held in condominium form of ownership that has previously been on an assessment roll as a dwelling unit in other than condominium form of ownership, and has not been previously subject to the aforementioned sections of state law.
This article shall take effect immediately upon adoption and filing in accordance with state law and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after such effective date.