The purpose of this article is to grant the maximum veterans exemption allowable pursuant to § 458-a of the Real Property Tax Law of the State of New York.
[Adopted 2-11-1985 by L.L. No. 2-1985]
[Amended 1-26-1998 by L.L. No. 1-1998]
Pursuant to the provisions of Subdivision 2(d) of § 458-a of the Real Property Tax Law of the State of New York, as amended by Chapter 477 of the Laws of 1996, the maximum veterans exemption from real property taxes allowable pursuant to § 458-a of the Real Property Tax Law is established as follows:
A.
Qualifying residential real property 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 the lesser of $18,000 or the product of $18,000 multiplied by the latest state equalization rate for the Village of Williamsville.
B.
In addition to the exemption provided by Subsection A, where the veteran served in a combat theater or combat zone of operations as documented by the award of a United States campaign ribbon or service medal, qualifying residential real property also shall be exempt from taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed the lesser of $12,000 or the product of $12,000 multiplied by the latest state equalization rate for the Village of Williamsville.
C.
In addition to the exemptions provided by Subsections A and B, where the veteran received a compensation rating from the United States Veterans' Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $60,000 or the product of $60,000 multiplied by the latest state equalization rate for the Village of Williamsville.