[Adopted 8-28-2008 by L.L. No. 5-2008]
The purpose of this article is to adopt a real
property tax exemption in the Town of Goshen for Cold War Veterans
authorized by Real Property Tax Law § 458-b.
A.
The Town of Goshen hereby adopts the real property
tax exemption for Cold War veterans as authorized by Real Property
Tax Law § 458-b. Qualifying residential property shall be
exempt from taxation to the extent provided for in Real Property Tax
Law § 2(a)(II), 15% of the assessed value of such property;
provided, however, that such exemption shall not exceed $12,000 or
the product of $12,000 multiplied by the latest state equalization
rate of the assessing unit, in the case of a special assessing unit,
the latest class ratio, whichever is less.
B.
In addition to the exemption provided by Real Property
Tax Law § 458-b, Subdivision (a), the Town of Goshen hereby
adopts the following disability exemption as provided in Subdivision
(b) of said law: where the 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 state equalization
rate for the assessing unit, or, in the case of a special assessing
unit, the latest class ratio, whichever is less.
This article shall take effect immediately upon
passage, filing and posting as required by law.
