[Adopted 12-13-1966 (Ch. 35 of the 1971 Code)]
The provisions of § 467 of the Real Property Tax Law
are hereby enacted and given full force and effect in the Town of
Newfane, Niagara County, New York, and shall take effect so that the
tax exemption granted therein will be applicable to the 1968 Town
tax year and subsequent years.
An exemption of assessed valuation of real property included
in this article shall be to the extent of 50% thereof.
The Town Board may take other and further action to implement
the provisions of § 467 of the Real Property Tax Law and
this article by resolution.
[Added 2-28-1973; amended 2-8-1978]
The income of the owner or the combined income of the owners
must not exceed $6,000 as defined in § 467, Subdivision
3(a), of the Real Property Tax Law for the 12 consecutive months prior
to the date that the application is filed.
[Adopted 5-22-1985 by L.L. No. 3-1985 (Ch. 33A of the 1971 Code)]
The purpose of this article is to increase the exemption from
real property taxes for veterans in the same proportion as total assessed
value has been increased by virtue of full value assessment in the
Town of Newfane.
Pursuant to the provisions of Subdivision 5(a) of § 458
of the Real Property Tax Law of the State of New York, the veterans
tax exemption shall be increased in the Town of Newfane in proportion
to the increase in full value assessment in said tax district.
Such assessment shall be made by the Assessors in the manner
provided in Paragraph 3 of Subdivision 1 of § 458, and no
application therefor need be filed by or on behalf of any owner of
any eligible property.
Where property which is owned by a veteran and is receiving
an exemption pursuant to § 458 of the Real Property Tax
Law is sold and other real property is acquired to replace the formerly
owned property, the exempt amount granted on the formerly owned property
pursuant to § 458 of the Real Property Tax Law and as expressed
in a percentage shall be granted on the property acquired to replace
the formerly owned property, provided that the newly acquired property
is in the same assessing unit and provided, further, that the exemption
granted on the newly acquired property shall not exceed the exemption
on the formerly owned property, as expressed in a dollar amount.