Town of Inlet, NY
Hamilton County
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[HISTORY: Adopted by the Town Board of the Town of Inlet as indicated in article histories. Amendments noted where applicable.]
GENERAL REFERENCES
Assessor — See Ch. 5.
[Adopted 3-13-2001 by L.L. No. 1-2001]
This article shall be entitled "Veterans Exemption Increase or Decrease Pursuant to § 458, Subdivision 5 of the Real Property Tax Law."
A. 
The Town Board of the Town of Inlet finds and determines that the sacrifices and services provided by veterans in protecting this country should be acknowledged by providing certain tax exemptions.
B. 
That § 458, Subdivision 5 authorizes the adoption of a local law to increase or decrease the amount of exemption for qualifying real property when the total assessed value of such real property has been increased or decreased as a 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 the Real Property Tax Law is certified for the assessment roll pursuant to the rules of the State Board.
That the Town Board of the Town of Inlet hereby adopts and incorporates by reference all of the provisions of Subdivision 5 of § 458 of the Real Property Tax Law with respect to any increase or decrease in the assessed value of qualifying real property in the Town of Inlet as a result of a revaluation or update of assessment and a material change in the level of assessment occurs.
This article shall take effect and apply to the 2001 Town of Inlet assessment rolls to be used in computing the 2002 Town tax and shall continue to apply to the Town of Inlet assessment rolls thereafter until amended.
[Adopted 10-14-2003 by L.L. No. 4-2003]
This article shall be entitled "Veterans Maximum Exemption as Authorized by Chapter 417 of the Laws of 1997 of the State of New York."
A. 
The Town Board of the Town of Inlet finds and determines that the sacrifices and services provided by veterans in protecting this country should be acknowledged by providing certain tax exemptions;
B. 
By Chapter 417 of the Laws of 1997 the New York State Legislature amended subparagraph (ii) of paragraph (d) of Subdivision 2 of § 458-a of the Real Property Tax Law authorizing the adoption of a local law to increase the maximum tax exemptions for veterans; and
C. 
The purpose of this article is to adopt maximum tax exemptions for veterans as authorized by Chapter 417 of the Laws of New York for 1997.
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 $27,000 or the product of $27,000 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 Subsection A of this section, where the veteran served in a combat theatre 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 10% of the assessed value of such property; provided, however, that such exemption shall not exceed $18,000 or the product of $18,000 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 Subsections A and B of this section, where the veteran received a compensation rating from the United States Veteran's 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 $90,000 or the product of $90,000 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. For the purposes 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%.
This article granting the maximum tax exemption for veterans as authorized by Chapter 417 of the Laws of 1997 of the State of New York shall take effect and apply to the 2004 Town assessment rolls to be used in computing the 2005 Town tax, and shall continue to apply to the Town assessment rolls thereafter until amended.