[Adopted 1-22-1985 by L.L. No. 1-1985]
To provide a real property tax exemption to those military veterans who own real property in the Village of Owego, the Owego Village Board does hereby enact the following article, to be known as the "Veteran's Real Property Tax Exemptions."
A. 
A percentage of real property tax exemption pursuant to and in accordance with Chapter 525 of the Laws of 1984[1] shall be granted for taxes due from veterans (as such are defined in Chapter 525) who own real property located in the Village of Owego. However, such percentage exemption will be subject to the following maximum dollar limitations on the assessed value of the property to which the exemption applies:
[Amended 2-2-2004 by L.L. No. 1-2004]
(1) 
War veteran: $12,000.
(2) 
Combat zone veteran: $8,000.
(3) 
Disabled veteran: $40,000.
[1]
Editor's Note: See Real Property Tax Law §§ 458 and 458-a.
B. 
The aforesaid limitations on the veteran's real property tax exemption shall be multiplied annually by the latest final state equalization rate for the Village of Owego (provided that the rate is 100 or less) to determine the actual dollar limitation of the tax exemption.