[Adopted 2-13-2018 by L.L. No. 2-2018]
The primary residence of a veteran of the United States Armed
Forces who served during the Cold War shall be partially exempt from
general municipal taxes pursuant to New York Real Property Tax Law
§ 458-b, and the exemption is subject to the definitions,
limitations and requirements of § 458-b.
A.
Qualifying residential real property within the Town shall be exempt
from taxation pursuant to New York Real Property Tax Law Section § 458-b
at the exemption level of 10%, with a maximum exemption of $4,000,
or the product of $4,000 multiplied by the latest state equalization
rate for the Town, for the standard exemption.
B.
Cold War veterans that received a compensation rating because of
a service-connected disability shall be entitled to an exemption for
qualifying residential real property within the Town in an amount
equal to the product of the assessed value of the property and 50%
of the Cold War veteran disability rating. The maximum exemption for
Cold War veterans that received a compensation rating because of a
service-connected disability shall be $20,000 or the product of $20,000
multiplied by the latest state equalization rate for the Town.
