[Adopted 1-6-2000 by L.L. No. 1-2000[1]]
[1]
Editor's Note: This local law superseded former
Art. V, Alternative Veterans Exemption, adopted 2-12-1998 by L.L.
No. 1-1998. This local law also provided that it will take effect
retroactively to January 1, 2000.
This article shall be known as "Alternative
Veterans Exemption From Real Property Taxation."
This article is enacted pursuant to Article
2 of the Municipal Home Rule Law of the State of New York.
[Amended 3-9-2000 by L.L. No. 2-2000]
Real Property Tax Law § 458-a provides
an alternative exemption from real property taxation for qualified
residential real property owned by veterans of defined periods of
war, veterans who received particular expeditionary medals or certain
of their family members, based on a percentage of assessed value,
and Real Property Tax Law § 458-a authorizes the increase
of the alternative veterans exemption.
A.
A qualified wartime veteran's exemption ceiling would
be increased from $12,000 to $15,000 assessed value.
B.
A qualified combat veteran's exemption ceiling would
be increased from $20,000 to $25,000 assessed value.
C.
A qualified disabled veteran's exemption ceiling would
be increased from $40,000 to $50,000 assessed value.
