The purpose of this article is to adopt the exemption for Cold
War veterans allowable pursuant to § 458-b of the Real Property
Tax Law.
Pursuant to the provisions of Subdivision (2)(a) and (b) of
§ 458-b of the Real Property Tax Law of the State of New
York, the Cold War veterans exemption from real property taxes allowable
pursuant to § 458-b 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 $12,000
or the product of $12,000 multiplied by the latest state equalization
rate for the Town of Fishkill.
B. In addition to the exemptions 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-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's disability rating; provided, however, that such exemption shall not exceed the lesser of $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the Town of Fishkill.