[Adopted 5-11-1981 by L.L. No. 1-1981]
[Amended 10-3-1991 by L.L. No. 3-1991]
The purpose of this article shall be to provide
for the preservation of the veterans exemption in connection with
taxation on real property in respect to the ratios thereof in the
event of the change in the manner of assessing in accordance with
§ 458, Subdivision 5(a), of the New York State Real Property
Tax Law.
[Amended 10-3-1991 by L.L. No. 3-1991]
Pursuant to the provisions of § 458
of the New York State Real Property Tax Law as heretofore adopted
and amended by the Legislature of the State of New York, including
the amendments by reason of the adoption of Chapter 134 of the Laws
of 1979, effective May 24, 1979, and by the adoption of Chapter 880
of the Laws of 1980, effective November 26, 1980, the purpose of this
article is to preserve the ratio which each veterans exemption from
taxation on real property bears to the total assessed value of real
property for which such exemption has been granted, whenever such
total assessed value increases or decreases due to full-value assessments.
The meanings of words and expressions as used
in this article shall be identical to their meanings as used in §§ 307[1] and 458, as amended, of the Real Property Tax Law of the
State of New York.
[1]
Editor's Note: Section 307 of the Real Property
Tax Law has expired. See now § 458 of that law.
[Amended 10-3-1991 by L.L. No. 3-1991]
If the ratio between the exemption granted under
§ 458, Subdivision 1, of the Real Property Tax Law of the
State of New York and the total value of assessed property for which
such exemption has been granted increases or decreases due to full-value
assessments in the Town of Wilton, the amount of the exemption heretofore
or hereafter granted shall be increased or decreased in such subsequent
year in the same proportion as the total assessed value has been increased
or decreased. Such adjustment shall be made by the Assessors in a
manner provided in Subdivision 1(3) of § 458 of the Real
Property Tax Law of the State of New York, and no application therefor
need be filed by or on behalf of any owner of any eligible property.
[Added 4-8-1985 by L.L. No. 1-1985;
amended 12-5-1996 by L.L. No. 2-1996; 8-7-2008 by L.L. No.
4-2008]
A.
The veteran's exemption provided by § 458
of the Real Property Tax Law shall be increased or decreased in proportion
that the assessed valuation of real property on which the exemption
has been granted is increased or decreased due to full value assessments
in the Town of Wilton.
B.
Whereas, § 458-a(2) of the Real Property
Tax Law has been amended to allow the base exempt limits for the § 458-a
exemption to include increased maximum limits and home value cap to
take effect on the first of January next succeeding the date on which
it shall have become law and, whereas, this section shall apply to
assessment rolls on the basis of taxable status date occurring on
or after such date, now therefore, this section will:
(1)
Increase the home value cap to $240,000.
(2)
Reinstate the original equalization provision of the
law which will allow municipality caps to fluctuate from year to year
as equalization rates change so as to ensure that veterans will receive
the same benefit from the exemption in different towns (which have
the same cap) but which assess at different levels of assessed valuation.
(3)
Increase the maximum exemption allowable in § 458-a,
Subdivisions 2(a), (b) and (c) of this section to $36,000, $24,000
and $120,000, respectively.
