[Adopted 3-1-2006 by L.L. No. 1-2006]
This article shall be known as the "Increase in the Exemption
Amount Allowed for the Alternative Veterans Exemption Law of the Town
of Penfield."
It is the purpose and intent of this article to implement legislation
which amends Real Property Tax Law § 458-a, Subdivision
2, to allow the Town of Penfield to increase the maximum exemption
allowable in Paragraphs (a), (b), and (c) of said Subdivision 2 to
$36,000, $24,000, and $120,000, respectively.
The Town Board of the Town of Penfield hereby recognizes that
the total assessed value of the real property for which an exemption
had been granted pursuant to Real Property Tax Law § 458-a,
Subdivision 2, Paragraphs (a), (b) and (c), has increased substantially
since the original enactment of § 458-a in 1984 and that
the original maximum exemption allowable under Subdivision 2, Paragraphs
(a), (b) and (c), has significantly decreased as a percentage of the
total assessed value of the real property.
The Assessor of the Town of Penfield is hereby directed to increase
the maximum exemption allowable for the alternative veterans exemption
in Real Property Tax Law § 458-a, Subdivision 2, Paragraphs
(a), (b) and (c), to $36,000, $24,000, and $120,000, respectively,
and to appropriately code all alternative veterans exemptions on the
assessment roll of the Town of Penfield to accurately reflect the
increase.
This article shall take effect immediately upon filing with
the Secretary of State and shall be used solely prospectively in the
preparation of assessment rolls on or after the next taxable status
date, which is March 1, 2006.
