[Adopted 2-20-1997 by L.L. No. 1-1997;
amended in its entirety 6-23-2003 by L.L. No. 2-2003]
The purpose of this article shall be to provide
for an increase in the maximum exemption allowable in Paragraphs (a),
(b), and (c) of Subdivision 2 of § 458-a of the Real Property
Tax Law of the State of New York as provided therein.
Pursuant to the provisions of § 458-a
of the New York State Real Property Tax Law as heretofore adopted
by the Legislature of the State of New York, the purpose of this article
is to provide for an increase in the maximum exemption allowable in
Paragraphs (a), (b), and (c) of Subdivision 2 of § 458-a
of the Real Property Tax Law of the State of New York as provided
therein.
The meanings of words and expressions as used
in this article shall be identical to their meanings as used in § 458-a
of the Real Property Tax Law of the State of New York.
The exemptions allowed by § 458-a(2)(a),
(b), and (c) be and the same hereby are increased to $27,000, $18,000
and $90,000, respectively, as provided in § 458-a(2)(d)(ii).
