[Adopted 12-5-2002 by L.L. No. 3-2002]
Pursuant to the authority granted by Real Property Tax Law § 458a(6) and to the extent permitted under such law and provided that all other eligibility criteria of Real Property Tax Law § 458-a are met, that proportion of the assessment of such real property owned by a cooperative apartment corporation determined by the relationship of such real property vested in such tenant-stockholder to such real property owned by such cooperative apartment corporation which such tenant-stockholder resides shall be subject to exemption from taxation pursuant to Real Property Tax Law § 458-a, and any exemption so granted shall be credited by the Village of Garden City against the assessed valuation of such real property.
Application for such exemptions shall be filed annually with the Village Assessor on or before the taxable status date of January 1 on a form prescribed by the New York State Office of Real Property Services.
This article shall take effect immediately and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after January 1, 2003.