[Adopted 3-12-2018 by L.L. No. 2-2018]
[1]
Editor's Note: Former Art. II, Use of Homestead
and Homestead Base Portions, adopted 7-11-1988 by L.L. No. 2-1988,
was repealed 2-14-2005 by L.L. No. 1-2005.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
Pursuant to Sections 458-a and 458-b of the New York State Real
Property Tax Law, the Town of Chautauqua hereby adopts the minimum
alternative veterans tax exemption and the Cold War veterans tax exemption,
which establish partial real property tax exemptions for certain veterans.
The exemption levels for the minimum alternative veterans exemption
shall be:
|
Classification
|
Exemption Level
|
|---|---|
|
Wartime
|
$12,000
|
|
Combat zone
|
$20,000
|
|
Disability
|
$40,000
|
A.
Maximum
allowable exemption. The maximum exemption shall be 15% of the property's
assessment, not to exceed $12,000, or the product of $12,000 multiplied
by the latest final state equalization rate, whichever is less.
B.
Additional
exemption for service-connected disability. Where a Cold War veteran
received 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, qualifying residential real property
shall be exempt from taxation to the extent of the product of the
assessed value of such 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 final state equalization rate, whichever is less.
