[Adopted 1-14-1985 by L.L. No. 1-1985]
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.
Pursuant to the provisions of Subdivision 2(d)
of § 458-a of the Real Property Tax Law of the State of
New York, the maximum veterans exemption from real property taxes
allowable pursuant to § 458-a of the Real Property Tax Law
is established as follows:
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 $9,000 or the product of $9,000 multiplied by the latest state
equalization rate of the Town of Cobleskill.
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 the lesser of $6,000 or the product of $6,000 multiplied by the latest state equalization rate of the Town of Cobleskill.
C.
In addition to the exemption provided by Subsections A and B of this section, where the veteran received a compensation rating from the United States veteran's 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 $30,000 or the product of $30,000 multiplied by the latest state equalization rate for the Town of Cobleskill.
