[Adopted 3-2-1981 by L.L. No. 1-1981]
This article shall be known as the "Veterans
Proportional Exemption Law of the Town of Clay."
The purpose of this article is to preserve the
ratio which each veterans' exemption from taxation on real property
bears to the total assessed value of the real property for which such
exemption has been granted whenever such total assessed value increases
or decreases due only to a change in the manner of assessing.
[Amended 8-20-2001 by L.L. No. 1-2001]
The meanings of words and expressions as used
in this article shall be identical to their meanings as used in § 458,
as amended, of the Real Property Tax Law of the State of New York.
A.
If the ratio between the exemption granted under Subdivision
1 of § 458 of the Real Property Tax Law of the State of
New York and the total assessed value of the real property for which
such exemption has been granted increases or decreases due only to
a change in the manner of assessing, other than a court-ordered full
value assessment, in the town, the amount of the exemption heretofore
or hereafter granted shall be increased or decreased in such subsequent
year in the same proportion as the total assessed value has been increased
or decreased.
B.
Such adjustment shall be made by the assessors in
the manner provided in Paragraph 3 of Subdivision 1 of § 458
of the Real Property Tax Law of the State of New York, and no application
therefore need be filed by or on behalf of any owner of any eligible
property.
