§ 384-21. Changes in total assessed value of real property.

A. 

If the total assessed value of real property for which an exemption has been granted pursuant to § 458 of the Real Property Tax Law has been increased or decreased as a result of a revaluation or update of assessments in the Village of Perry and a material change in level of assessment has been certified by the State Board of Real Property Services for the assessment roll on which such property is assessed, the Assessor shall increase or decrease the amount of such exemption by multiplying the amount of such exemption by such change in level of assessment.

B. 

In accordance with Subdivision 5(a) of § 458 of the Real Property Tax Law, if the Assessor receives the certification from the State Board after the final assessment roll has been filed, the Assessor shall certify the amount of the recomputed exemption to the officer having custody and control of the roll who is directed and authorized by such statute to enter the recomputed exemption on the roll.