§ 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.