[Adopted 8-6-1986 as L.L. No. 1-1986[1]]
[1]
Editor's Note: This local law also repealed
former Article III, Veterans Tax Exemption, adopted 6-10-1985 as L.L.
No. 1-1985.
Pursuant to the provisions of § 458-a,
Subdivision 2(d), of the Real Property Tax Law of the State of New
York, the maximum veterans exemption from real property taxes allowable
is established as herein provided.
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 established for the village.
In addition to the exemption provided by § 50-18, 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 established for the village.
In addition to the exemptions provided by §§ 50-18 and 50-19, where the veteran received a compensation rating from the United States Veterans' Administration or 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 veterans' 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 established for the village.
