[Adopted 3-25-1982 by L.L.
No. 1-1982; amended in its entirety 12-5-1996
by L.L. No. 2-1996]
The purpose of this Article shall be to provide for the preservation
of the veterans exemption in connection with taxation on real property in
respect to the ratios thereof in the event of the change in the manner of
assessing in accordance with § 458, Subdivision 5(a), of the New
York State Real Property Tax Law.
Pursuant to the provisions of § 458 of the New York State Real Property Tax Law, as heretofore adopted and amended by the Legislature of the State of New York, including the amendments by reason of the adoption of Chapter 134 of the Laws of 1979, effective May 24, 1979, 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 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.
The meanings of the words and expressions as used in this Article shall
be identical to their meaning as used in § 458, as amended, of the
Real Property Tax Law of the State of New York.
Any veterans exemption provided by § 458 of the Real Property
Tax Law shall be increased or decreased in the proportion that the assessed
valuation of real property on which the exemption has been granted is increased
or decreased due to any future change in assessment in the Town of Corinth.
