[Adopted 2-6-1985 by L.L. No. 1-1985]
[Amended 4-10-2007 by L.L. No. 2-2007]
The purpose of this article is to provide a
veterans exemption of real property taxation allowable pursuant to
§ 458-a of the Real Property Tax Law of the State of New
York and shall be known as "Veterans Exemption Local Law."
[Amended 4-9-1997 by L.L. No. 3-1997]
Pursuant to the provisions of Subdivision 2(d)
of § 458-a of the Real Property Tax Law of the State of
New York, as amended, the maximum veterans exemption from real property
taxes 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 $36,000 or
the product of $36,000 multiplied by the latest state equalization
rate for the Town of Wales, New York.
[Amended 4-10-2007 by L.L. No. 2-2007]
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, or the Armed Forces Expeditionary Medal, Navy Expeditionary Medal or Marine Corps Expeditionary 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 $24,000 or the product of $24,000 multiplied by the latest state equalization rate for the Town of Wales, New York.
[Amended 4-10-2007 by L.L. No. 2-2007]
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 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 $120,000 or the product of $120,000 multiplied by the latest state equalization rate for the Town of Wales, New York. For purposes of this subsection, 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%.
[Amended 4-10-2007 by L.L. No. 2-2007]
D.
Application of exemption. This exemption shall be
applicable in accordance with the provisions of the Real Property
Tax Law.
E.
Where a veteran already receiving an exemption pursuant
to this section sells the property receiving the exemption and purchases
property within the Town of Wales, the Assessors shall transfer and
prorate, for the remainder of the fiscal year, the exemption which
the veteran received. The prorated exemption shall be based upon the
date the veteran obtains title to the new property and shall be calculated
by multiplying the tax rate or rates for the Town which levied the
taxes, or for which taxes were levied, on the appropriate tax roll
used for the fiscal year or years during which the transfer occurred
times the previously granted exempt amount times the fraction of each
fiscal year or years remaining subsequent to the transfer of title.
Nothing in this section shall be construed to remove the requirement
that any such veteran transferring an exemption pursuant to this section
shall reapply for the exemption authorized pursuant to this section
on or before the following taxable status date, in the event such
veteran wishes to receive the exemption in future fiscal years.
[Added 4-10-2007 by L.L. No. 2-2007]
[Added 10-16-1985 by L.L. No. 2-1985]
A.
If the ratio between an exemption granted under § 458
of the Real Property Tax Law of the State of New York and the total
assessed value of the real property for which such exemption has been
granted increases or decreases due only to a full value assessment
of the Town of Wales, New York, 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.
B.
Such adjustment shall be made by the Assessors of
the Town of Wales, New York, in the 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.
