[Adopted 1-30-1985 by L.L. No. 2-1985]
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 Village of Weedsport.
B.
In addition to the exemption provided in Subsection A of this section, where the veteran served in 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 shall also 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 Village of Weedsport.
C.
In addition to the exemptions provided in 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 Village of Weedsport.
