[Adopted 4-17-1996 by L.L. No. 3-1996]
The intent of this article is to adopt the provisions
of § 458, Subdivisions 5(a) and 5(b), of the Real Property
Tax Law, extending the eligible funds property tax exemption for veterans.
The provisions of the New York State Real Property
Tax Law § 458, Subdivisions 5(a) and 5(b), as amended, are
hereby adopted and shall apply only to the levy of town real property
taxes in the Town of New Hartford.
Notwithstanding the limitation on the amount
of exemption prescribed in Subdivision 1 or 2 of § 458 of
the 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 the Real Property Tax Law, is certified for the assessment roll
pursuant to the rules of the State Board, 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. If
the Assessor receives the certification after the completion, verification
and filing of the final assessment roll, the Assessor shall certify
the amount of exemption as recomputed pursuant to this article 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 Assessor on the roll.
Owners of property who previously received an
exemption pursuant to this section, but who opted instead to receive
exemption pursuant to § 458-a of the Real Property Tax Law,
are hereby authorized to receive an exemption pursuant to this article
upon application by the owner within one year of the adoption of the
article. The Assessor shall recompute all exemptions granted pursuant
to this article by multiplying the amount of each such exemption by
the cumulative change in level of assessment certified by the State
Board measured from the assessment roll immediately preceding the
assessment roll on which exemptions were first granted pursuant to
§ 458-a of the Real Property Tax Law; provided, however,
that if an exemption pursuant to that section of the Real Property
Tax Law was initially granted to a parcel on a later assessment roll,
the cumulative change in level factor to be used in recomputing that
exemption shall be measured from the assessment roll immediately preceding
the assessment roll on which that exemption was initially granted.
No refunds or retroactive entitlements shall be granted.
[Added 12-27-1996 by L.L. No. 9-1996]
A.
Pursuant to Chapter 477 of the Laws of 1996, the Town
of New Hartford does hereby increase the home value "cap" for veterans
to a maximum of $120,000, thereby allowing the full statutory percentage
of the alternative veterans exemption.
B.
Pursuant to Chapter 477 of the Laws of 1996, the Town
of New Hartford does hereby reinstate the original equalization provisions
of the Real Property Tax Law of the State of New York. This will allow
the town "caps" to fluctuate from year to year as equalization rates
change, so as to ensure that a veteran in the Town of New Hartford
will receive the same benefit from the exemption as a fellow veteran
in another town which has the same cap, but which assesses at a different
level of assessed value.
