[Adopted 2-26-2008 by L.L. No. 3-2008]
The purpose of this article is to grant Cold War veterans who meet the requirements set forth in § 458-b of the New York State Real Property Tax Law with a real property tax exemption.
As used in this article, the following terms shall have the meaning indicated:
ACTIVE DUTY
Full-time duty in the United States Armed Forces, other than active duty for training.
ARMED FORCES
The United States Army, Navy, Marine Corps, Air Force, and Coast Guard.
COLD WAR VETERAN
A person, male or female, who served on active duty in the United States Armed Forces, during the time period from September 2, 1945 to December 26, 1991, was discharged or released therefrom under honorable conditions and satisfies any other requirements set forth in § 458-b(1)(a) of the New York State Real Property Tax Law.
LATEST CLASS RATIO
The latest final class ratio established by the New York State Board of Real Property Tax Services pursuant to Title 1 of Article 12 of Chapter 50-a of the New York State Real Property Tax Law for use in a special assessing unit as defined in § 1801 of Chapter 50-a of the New York State Real Property Tax Law.
LATEST STATE EQUALIZATION RATE
The latest final state equalization rate or special equalization rate established by the New York State Board of Real Property Tax Services pursuant to Article 12 of Chapter 50-a of the New York State Real Property Tax Law. The New York State Board of Real Property Tax Services shall establish a special equalization rate if it finds that there has been a material change in the level of assessment since the establishment of the latest state equalization rate, but in no event shall such special equalization rate exceed 100. In the event that the state equalization rate exceeds 100, then the state equalization rate shall be 100 for the purposes of this article. Where a special equalization rate is established for purposes of this article, the Assessor is directed and authorized to recompute the Cold War veterans exemption on the assessment roll by applying such special equalization rate instead of the latest state equalization rate applied in the previous year and to make the appropriate corrections on the assessment roll, notwithstanding the fact that such Assessor may receive the special equalization rate after the completion, verification and filing of such final assessment roll. In the event that the Assessor does not have custody of the roll when such recomputation is accomplished, the Assessor shall certify such recomputation to the local officers having custody and control of such roll, and such local officers are hereby directed and authorized to enter the recomputed Cold War veterans exemption certified by the Assessor on such roll.
[Amended 2-23-2010 by L.L. No. 1-2010; 2-13-2018 by L.L. No. 2-2018]
QUALIFIED OWNER
A Cold War veteran, the spouse of a Cold War veteran, or the unremarried surviving spouse of a deceased Cold War veteran. Where property is owned by more than one qualified owner, the exemption to which each is entitled may be combined. Where a veteran is also the unremarried surviving spouse of a veteran, such person may also receive any exemption to which the deceased spouse was entitled.
QUALIFIED RESIDENTIAL REAL PROPERTY
Property owned by a qualified owner which is used exclusively for residential purposes; provided, however, that in the event that any portion of such property is not used exclusively for residential purposes, but is used for other purposes, such portion shall be subject to taxation and only the remaining portion used exclusively for residential purposes shall be subject to the exemption provided by this article. Such property shall be the primary residence of the Cold War veteran or the unremarried surviving spouse of a Cold War veteran; unless the Cold War veteran or unremarried surviving spouse is absent from the property due to medical reasons or institutionalization subject to such time limitations, if any, as are set forth in § 458-b(1)(f) of the New York State Real Property Tax Law.
[Amended 2-13-2018 by L.L. No. 2-2018]
SERVICE CONNECTED
With respect to disability or death, that such disability was incurred or aggravated, or that the death resulted from a disability incurred or aggravated, in line of duty on active military, naval or air service.
[Amended 2-23-2010 by L.L. No. 1-2010; 2-13-2018 by L.L. No. 2-2018; 3-8-2022 by L.L. No. 4-2022]
A. 
Qualifying residential real property of a Cold War veteran, as defined in New York State Real Property Tax Law § 458-b, shall be exempt from taxation to the extent of 15% of the assessed value of such property; provided, however, that such exemption shall not exceed $75,000 or the product of $75,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less.
B. 
In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United States Veterans Affairs or from the United States Department of Defense because of a service-related disability, qualifying residential real property, as defined in New York State Real Property Tax Law § 458-b, 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 $250,000 or the product of $250,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less.
C. 
If a Cold War veteran receives either a veterans' exemption under Article III of this chapter, authorized by § 458 of the New York State Real Property Tax Law, or an alternative veterans' exemption authorized by § 458-a of the Real Property Tax Law, the Cold War veteran shall not be eligible to receive an exemption under this article.
[Added 2-23-2010 by L.L. No. 1-2010[1]]
The provisions in this article shall apply to any real property held in trust solely for the benefit of a person or persons who would otherwise be eligible for a real property tax exemption, pursuant to this article, were such person or persons the owner or owners of such real property.
[1]
Editor's Note: This local law also provided for the renumbering of former §§ 73-16 and 73-17 as §§ 73-18 and 73-19, respectively.
[Added 2-23-2010 by L.L. No. 1-2010]
A. 
For the purposes of this article, title to the 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 or her 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. 
Provided that all other eligibility criteria of this article are met, that proportion of the assessment of such real property owned by a cooperative apartment corporation determined by the relationship of such real property vested in such tenant-stockholder to such real property owned by such cooperative apartment corporation in which such tenant-stockholder resides shall be subject to exemption from taxation pursuant to this article, 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 corporation against the amount of such taxes otherwise payable by or chargeable to such tenant-stockholder.
C. 
Notwithstanding Subsection B of this section, a tenant-stockholder who resides in a dwelling that is subject to the provisions of Article 2, 4, 5 or 11 of the Private Housing Finance Law shall not be eligible for an exemption pursuant to this section.
[Amended 2-13-2018 by L.L. No. 2-2018]
The exemption provided by Subsection A of § 73-15 of this article shall be effective for as long as a qualified owner of qualified residential real property remains a qualified owner thereof, without regard to the ten-year limitation period previously in effect.
Application for the exemption set forth in this article shall be made by the qualified owner, or all of the qualified owners, of the property on a form prescribed by the New York State Board of Real Property Tax Services. The owner or owners shall file the completed form in the local assessor's office on or before the first appropriate taxable status date. The owner or owners of the property shall be required to refile at such times and under such circumstances as may be set forth in § 458-b(4) of the New York State Real Property Tax Law. Any applicant convicted of willfully making any false statement in the application for such exemption shall be subject to the penalties prescribed in the New York State Penal Law.