[Adopted 5-15-1997 by L.L. No. 2-1997]
This article shall be known as a local law increasing the maximum
exemption allowable for veterans pursuant to § 458-a of
the Real Property Tax Law.
Pursuant to the provision of § 458-a(2)(d)(ii) of
the Real Property Tax Law, the Town of Pine Plains hereby increases
the maximum exemptions allowable in Paragraphs a, b, and c, of § 458-a
of the Real Property Tax Law as follows:
A.
The maximum exemption allowable in Paragraph 2(a) of § 458-a
of the Real Property Tax Law is hereby increased to $15,000, or the
product of $15,000 multiplied by the latest state equalization rate
for the Town of Pine Plains, whichever is less.
B.
The maximum exemption allowable in Paragraph 2(b) of § 458-a
of the Real Property Tax Law is increased to $10,000, or the product
of $10,000 multiplied by the latest state equalization rate for the
Town of Pine Plains, whichever is less.
C.
The maximum exemption allowable pursuant to Paragraph 2(c) of § 458-a
of the Real Property Tax Law is increased to $50,000, or the product
of $50,000 multiplied by the latest state equalization rate for the
Town of Pine Plains, whichever is less.
