The purpose of this law is to reduce the maximum
veterans exemption allowable pursuant to § 458-a of the
Real Property Tax Law of the State of New York.
Pursuant to the provisions of Subdivision 2(d)
of § 458-a of the Real Property Tax Law of the State of
New York, 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 $9,000 or the product of $9,000 multiplied by the latest state
equalization rate for the Town of Deerpark.
B. In addition to the exemption provided by Subsection
A, where the veteran served in a combat theatre 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 $6,000 or the product of $6,000 multiplied by the latest state equalization rate for the Town of Deerpark.
C. In addition to the exemptions provided by Subsections
A and
B, where the veteran received a compensation rating from the United States Veteran's 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 $30,000 or the product of $30,000 multiplied by the latest state equalization rate for the Town of Deerpark.