[HISTORY: Adopted by the Town Board of the
Town of Islip 1-28-1997 by L.L. No. 1-1997[1]; amended in its entirety 10-25-2011. Subsequent amendments noted where applicable.]
GENERAL REFERENCES
Taxation: partial exemption for senior citizens — See Ch. 48.
Taxation: business exemption — See Ch. 48A.
Taxation: homestead base proportion — See Ch. 48B.
Taxation: handicapped improvement exemption — See Ch. 48C.
Taxation: business investment exemption — See Ch. 48E.
Taxation: home improvement exemption — See Ch. 48F.
Taxation: exemption for persons with disabilities — See Ch. 48G.
Taxation: exemption for volunteer fire fighters and ambulance workers — See Ch. 48H.
Taxation: exemption for Cold War veterans — See Ch. 48I.
Taxation: Superstorm Sandy assessment relief — See Ch. 48J.
[1]
Editor's Note: This local law superseded former
Ch. 48D, Taxation: Partial Exemption for Veterans, adopted 1-15-1985
by L.L. No. 1, 1985.
This chapter shall be known and may be cited as the "Taxation
— Partial Exemption for Veterans Law of the Town of Islip."
The provisions of § 458-a of the Real Property Tax
Law of the State of New York, as amended by Chapter 477 the Laws of
1996 of the State of New York, are hereby adopted by the Town of Islip.
If the ratio between the exemption granted under this section
and the total assessed value of the real property for which such exemption
has been granted increases or decreases due only to a change in the
manner of assessing real property in the tax district in which such
property is located, the amount of the exemption heretofore or hereafter
granted shall be increased or decreased in such subsequent year in
the same proportion as the total assessed value has been increased
or decreased.
A.
The maximum exemption allowable to qualifying residential real property
exempt from taxation, under § 458-a of the New York Real
Property Tax Law, to the extent of 15% of the assessed value, shall
be increased from $27,000 to $54,000.
B.
The maximum exemption allowable to veterans who served in a combat
theater or combat zone of operations, as documented by the award of
the United States Campaign Ribbon or Service Medal, under § 458-a
of the New York Real Property Tax Law, is hereby increased from $18,000
to $36,000.
C.
The maximum exemption allowable, as an additional exemption available
to a veteran who has received a compensation rating from a New York
veterans organization or the United States Department of Defense because
of a service-connected disability, calculated as the product of the
assessed value multiplied by 50% of the veteran's disability
rating under § 458-a of the New York Real Property Tax Law,
is hereby increased from $90,000 to $180,000.
For the purposes of determining eligibility for a partial veterans
exemption from real property taxes under § 458 of the New
York Real Property Tax Law and for the purposes of determining eligibility
for a veterans alternative exemption under § 458-a of the
New York Real Property Tax Law, the following shall apply:
A.
For the purpose of this section, title to that portion of real property
owned by a cooperative apartment corporation in which a tenant-stockholder
of such corporation resides and which is represented by his share
or shares of stock in such corporation as determined by its or their
proportional relationship to the total outstanding stock of the corporation,
including that owned by the corporation, shall be deemed to be vested
in such tenant-stockholder.
B.
The proportion of the assessment of such real property owned by such
cooperative apartment corporation determined by the relationship of
such real property vested in such tenant-stockholder to such entire
parcel and the building thereon owned by such cooperative apartment
corporation in which such tenant-stockholder resides shall be subject
to exemption from taxation pursuant to this section, and any exemption
so granted shall be credited by the appropriate taxing authority against
the assessed valuation of such real property; the reduction in real
property taxes realized thereby shall be credited by the cooperative
apartment against the amount of such taxes otherwise payable by or
chargeable to such tenant-stockholder.
If any clause, sentence, paragraph, subdivision, section, or
part of this chapter or the application thereof to any person, individual,
corporation, firm, partnership, entity or circumstance shall be adjudged
by any court of competent jurisdiction to be invalid or unconstitutional,
such order or judgment shall not affect, impair or invalidate the
remainder thereof, but shall be confined in its operation to the clause,
sentence, paragraph, subdivision, partnership, entity or circumstance
directly involved in the controversy in which such order or judgment
shall be rendered.
This chapter shall take effect immediately upon the appropriate
certified copies hereof being filed with the Secretary of State of
the State of New York.
