[Adopted 6-24-1985 by L.L.
No. 5-1985]
The purpose of this article is to preserve the ratio which each veteran's
exemption from taxation on real property bears to the total assessed value
of the real property, for which such exemption has been granted, whenever
such total assessed value increases or decreases due only to a change in the
manner of assessing.
Pursuant to the provisions of Paragraph (a) of Subdivision 5 of § 458
of the Real Property Tax Law of the State of New York, if the ratio between
the exemption granted under § 458 of the Real Property Tax Law of
the State of New York and the total assessed value of real property for which
such exemption has been granted increases or decreases due only to a full
value assessment in the City of Watertown in which such property is located,
the amount of the exemption heretofore or hereafter granted shall be increased
or decreased in such subsequent year in the same proportion as the total assessed
value has been increased or decreased. Such adjustment shall be made by the
assessors in the manner provided in § 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.
