It is the purpose and intent of this article
to implement legislation to provide a partial real property tax exemption
allowable for Cold War veterans, as set forth by § 458-b
of the Real Property Tax Law in accordance with Paragraphs (a)(i)
and (b) of Subdivision 2 thereof.
All applicable provisions of § 458-b
of the Real Property Tax Law, including all subdivisions, together
with any and all appropriate amendments thereto, are hereby approved
and adopted as and for law and procedures of the Town/Village of East
Rochester, except where provisions of this article or any other local
law or ordinance of the Town/Village of East Rochester shall prescribe
differently. In such event, compliance with the provisions of such
local law or ordinance shall constitute proper compliance with this
article.
Qualifying residential real property shall be
exempt from taxation by the Town/Village of East Rochester to the
extent of 10% of the assessed value of such property; provided, however,
that such exemption shall not exceed $8,000. In addition, where the
Cold War veteran received a compensation rating from the United States
Veterans Affairs 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 Cold War
Veteran disability rating; provided, however, that such exemption
shall not exceed $40,000.
The Town/Village Board of Trustees may, from
time to time, amend, supplement, change, modify or repeal this article
pursuant to the provisions of the Village Law, the General Municipal
Law and the Real Property Tax Law applicable thereto.
[Added at time of adoption of Code (see Ch. 1, General Provisions,
Art. I)]
The exemption authorized by this article shall apply to qualifying
owners of qualifying real property for as long as they remain qualifying
owners, without regard to the ten-year limitation set forth in Real
Property Tax Law § 458-b.