City of Albany, NY
Albany County
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Table of Contents
Table of Contents
[Adopted 4-7-1997 by L.L. No. 3-1997[1]]
[1]
Editor's Note: This local law superseded former Art. XII, Veterans Exemption, adopted 10-17-1994 by Section 2 of L.L. No. 8-1994.
Notwithstanding the limitation on an amount of exemption prescribed in Subdivision a or b of Subdivision (5) of § 458 of the New York State Real Property Tax Law, if the total assessed value of the real property for which such exemption has been granted increases or decreases as the result of a revaluation or update of assessments, and a material change in level of assessment, as provided in Title 2 of Article 12 of Chapter 410 of the 1994 Laws of New York State, is certified for the assessment roll pursuant to the rules of the State Board, the Assessor shall increase or decrease the amount of such exemption by multiplying the amount of such exemption by such change in level of assessment. If the Assessor receives the certification after the completion, verification and filing of the final assessment roll, the Assessor shall certify the amount of exemption as recomputed pursuant to this section to the local officers having custody and control of the roll, and such local officers are hereby directed and authorized to enter the recomputed exemption certified by the assessor on the roll.
Notwithstanding the provisions of paragraph (b) of Subdivision 6 § 458 of the New York State Real Property Tax Law, eligible owners of property who previously received an exemption pursuant to Subdivision 5 of § 458, but who opted instead to receive exemption pursuant to § 458-a, are hereby authorized to receive an exemption pursuant to Subdivision (5) of § 458 of the New York State Real Property Tax Law upon timely application by the owner within one year of the adoption of this article. Where such application is timely made, the assessor shall recompute all exemptions granted pursuant to this section by multiplying the amount of each such exemption by the cumulative change in level of assessment certified by the State Board measured from the assessment roll immediately preceding the assessment roll on which exemptions were first granted pursuant to § 458-a; provided, however, that if an exemption was initially granted to a parcel on a later assessment roll, the cumulative change in level factor to be used in recomputing that exemption shall be measured from the assessment roll immediately preceding the assessment roll on which that exemption was initially granted. No refund or retroactive entitlements shall be granted.
[Amended 12-1-1997 by L.L. No. 9-1997; 2-5-2018 by L.L. No. 3-2018[1]]
In accordance with Subparagraph (ii) of Paragraph (d) of Subdivision 2 of § 458-a of the Real Property Tax Law (as amended by Chapter 417 of the Laws of 1997 of the State of New York), the maximum tax exemptions for veterans are hereby increased 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 $36,000 or the product of $36,000 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 § 333-107A of this article, where the veteran served in a combat theater or combat zone of operation, 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 25% of the assessed value of such property; provided, however, that such exemption shall not exceed $60,000 or the product of $60,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the class ratio, whichever is less.
C. 
In addition to the exemptions provided by § 333-107A and B of this article, where the veteran received a compensation rating from the United States Veterans' Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed $120,000 or the product of $120,000 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. For the purpose of this article, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.
[1]
Editor's Note: This local law provided that it shall apply to assessment rolls prepared on the basis of a taxable status date occurring after 1-1-2018.
[Added 7-7-2008 by L.L. No. 2-2008[1]]
A. 
An exemption is hereby granted to Cold War veterans in accordance with § 458-b of the Real Property Tax Law of the State of New York. The exemption shall be as provided and administered by § 458-b.
B. 
Qualifying residential real property shall be exempt from taxation to the extent of either:
(1) 
Ten percent of the assessed value of such property; provided, however, that such exemption shall not exceed $8,000 or the product of $8,000 multiplied by the latest state equalization rate of the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less; or
(2) 
Fifteen percent 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 or, in the case of a special assessing unit, the latest class ratio, whichever is less.
C. 
In addition to the exemption provided by Subsection B 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 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.
[1]
Editor's Note: This local law also provided that it shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after 1-1-2009.