[Adopted 2-26-2004 by L.L. No. 3-2004]
The Board of Trustees of the Incorporated Village of Laurel Hollow hereby
finds and declares: The recent Nassau County real property reassessment has
resulted in an inequity regarding veterans exemptions authorized pursuant
to New York State Law. Section 458(5) of the New York Real Property Tax Law
authorizes adoption of a local law to remedy the inequity. That is the function
of this legislation.
Notwithstanding the limitation on the amount of veterans exemption prescribed
in § 458(1) and 458(2) of the New York Real Property Tax Law, 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, as provided
in Title 2 of Article 12 of Chapter 50-A of the Consolidated Laws of the State
of New York, is certified for the assessment roll pursuant to the rules of
the state board, the Board of Trustees as assessor shall increase or decrease
the amount of such exemption by multiplying the amount of such exemption by
the change in level of assessment factor. If the Board of Trustees as assessor
receives the certification after the completion, verification and filing of
the final assessment roll, the Board of Trustees as assessor shall certify
the amount of exemption as recomputed pursuant to this section to the local
officers having custody and control of the roll, and such local officers are
hereby directed and authorized to enter the recomputed exemption certified
by the Board of Trustees as assessor on the roll.
If any section, subsection, sentence, clause or phrase of this article
is for any reason held to be invalid or unconstitutional by the decision of
any court of competent jurisdiction, such decision shall not affect the validity
of the remaining portions of this article.
