NOTICE IS HEREBY GIVEN, that the Town Board of the Town of Smithtown, Suffolk County, State of New York, met at the Town of Smithtown Town Hall, Patrick R. Vecchio Building, Victor T. Liss Boardroom, 99 West Main Street, Smithtown, New York, on the 6th day of February, 2018 at 2:00 p.m., time then in effect and duly adopted proposed Local Law #1-2018 amending Chapter 256 of the Town Code of the Town of Smithtown entitled "Taxation," as it relates to limitations.
Local Law #1-2018
Chapter 256. Taxation
Additions indicated by underlines.
Deletions indicated by
§256-45 Exemption granted; amount; limitations.
(1) The exemption from taxation provided by this section shall be applicable to county, city,
town, school and village taxation, if separately authorized thereby
,. but shall not be applicable to taxes levied for school purposes.
(3) The exemption provided by Subsection A of this section shall be granted for a period of 10 years. The commencement of such ten-year period shall be governed pursuant to this subsection. Where a qualified owner owns qualifying residential real property on the effective date of this section, such ten-year period shall be measured from the assessment roll prepared pursuant to the first taxable status date occurring on or after the effective date of this article. Where a qualified owner does not own qualifying residential real property on the effective date of this article, such ten-year period shall be measured from the assessment roll prepared pursuant to the first taxable status date occurring at least 60 days after the date of purchase of qualifying residential real property; provided, however, that should the veteran apply for and be granted an exemption on the assessment roll prepared pursuant to a taxable status date occurring within 60 days after the date of purchase of residential real property, such ten-year period shall be measured from the first assessment roll in which the exemption occurs. If, before the expiration of such ten-year period, such exempt property is sold and replaced with other residential real property, such exemption may be granted pursuant to this subsection for the unexpired portion of the ten-year exemption period.
(3) The State enabling legislation and §256-45C (3) previously limited the exemption to a period of 10 years. This may be altered pursuant to Chapter 290 of the Laws of 2017, by eliminating the 10 year limitation period at local option. It is the intent and purpose of this local law amendment to remove the aforesaid limitation period for town tax levy purposes.
Dated: February 6, 2018
BY ORDER OF THE TOWN BOARD
OF THE TOWN OF SMITHTOWN