[Adopted 1-26-2009 by L.L. No. 1-2009]
A.
For Cold War veterans not having a service-connected
disability, each qualified veteran being an owner of qualifying residential
real property shall receive an exemption on such qualifying residential
real property equal to 15% of the assessed value of such property;
provided, however, such exemption shall not exceed $12,000 or the
product of $12,000 multiplied by the latest state equalization rate
of the Village of Akron, whichever is less.
B.
For Cold War Veterans receiving a compensation rating from the United States Department of Veterans Affairs or from the United States Department of Defense because of a service-connected disability being an owner of qualifying residential real estate, in addition to the benefits received under Subsection A above, shall receive an exemption on such qualifying residential real property equal to the product of the assessed value of the such qualified residential real property multiplied by 50% of the Cold War veteran disability rating; provided, however, that such exemption shall not exceed $40,000, or the product of $40,000 multiplied by the latest state equalization rate for the Village of Akron, whichever is less.
