[Adopted 1-14-1985 by L.L. No. 1-1985 (Ch.
162, Art. III, of the 1989 Code)]
The purpose of this article is to reduce the
maximum veterans exemption allowable pursuant to § 458-a
of the Real Property Tax Law of the State of New York.
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 $6,000 or the product of $6,000 multiplied by the latest state
equalization rate for the Town of Manchester.
B. In addition to the exemption provided by Subsection
A of this section, where the veteran served in a combat theater 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 $4,000 or the product of $4,000 multiplied by the latest state equalization rate for the Town of Manchester.
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 Veterans 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 $20,000 or the product of $20,000 multiplied by the latest state equalization rate for the Town of Manchester.