[1]
Editor's Note: This local law provided that it would be effective
immediately and apply to taxable status dates occurring on or after
1-1-2017.
A.
Ulster County is indebted to our veterans for the sacrifices they
have made on behalf of Ulster County's residents as well as the entire
country. In appreciation for their heroic efforts, the County wishes
to grant the maximum exemption allowable to veterans under New York
Real Property Tax State Law (RPTL).
B.
The Legislature hereby intends to grant to honorably discharged veterans
the maximum allowable property tax exemptions as follows: pursuant
to RPTL § 458-a(2)(a) an exemption equal to 15% of the assessed
value, not to exceed $45,000; pursuant to RPTL § 458-a(2)(b)
for veterans who served in a combat zone, an additional exemption
equal to 10% of the assessed value, not to exceed $30,000; and, pursuant
to RPTL § 458-a(2)(c) for veterans who suffered a service
oriented disability, an additional exemption equal to the product
of the assessed value multiplied by 1/2 of the compensation rating
of the veteran as determined by Veterans Affairs, not to exceed $150,000.
This article is enacted pursuant to Real Property Tax Law (RPTL)
§ 458-a. All terms and definitions of RPTL § 458-a
shall be equally applicable in this article.
As authorized by RPTL § 2(d)(ii), Ulster County hereby
elects to increase the exemption amounts to the maximum levels allowable.
The maximum exemptions are as follows: for exemptions pursuant to
Paragraph 2(a), 15% or a maximum of $45,000 multiplied by the latest
state equalization rate; for exemptions pursuant to Paragraph 2(b),
10% or a maximum of $30,000 multiplied by the latest state equalization
rate; and for exemptions pursuant to Paragraph 2(c), the product of
the assessed value multiplied by 1/2 of the compensation rating of
the veteran, multiplied by the latest state equalization rate with
a maximum of $150,000.
