N.Y. Real Property Tax Law § 455: Exemption option

§ 455. Exemption option. Notwithstanding any provision of this title

to the contrary, real property owned by one or more persons where one of

such owners qualifies for a real property tax exemption pursuant to

section four hundred fifty-nine-c or four hundred sixty-seven of this

title, and another of such owners qualifies for a different tax

exemption pursuant to such sections of this title, such owners shall

have the option of choosing the one exemption which is most beneficial

to such owners. Such owners shall not be prohibited from taking one such

exemption solely on the basis that such owners qualify for more than one

exemption and therefore are not eligible for any exemptions.