[Adopted 11-14-1996 by L.L. No. 4-1996]
This article shall be known as a local law providing for the
increase or decrease in the amount of a veteran's exemption in the
event of a revaluation or update in assessments, pursuant to § 458(5)(a)
of the Real Property Tax Law.
In the event that a revaluation or update of assessments in
the Town of Pine Plains results in an increase or decrease in the
total assessed value of the real property for a veteran's exemption
granted pursuant to § 458 of the Real Property Tax Law,
and a material change in the level of assessment, as provided in Title
2 of Article 12 of the Real Property Tax Law is certified for the
assessment roll pursuant to the rules of the Commissioner of Taxation
and Finance, the 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 pursuant to the provisions of
§ 458(5)(a) of the Real Property Tax Law.
