[Adopted 12-4-2008 by L.L. No. 2-2008;
amended in its entirety 2-15-2018 by L.L. No. 2-2018]
This article is adopted pursuant to the authorization granted
by Real Property Tax Law § 458-b. All definitions, terms
and conditions of such statute shall apply to this article.
A.
Qualifying residential real property owned by a Cold War veteran,
or other qualified owner, shall be entitled to a partial exemption
from taxation to the extent of 15% of the assessed valuation, not
to exceed $12,000 or the product of $12,000 multiplied by the latest
state equalization rate. Additionally, 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,
not to exceed $40,000 or the product of $40,000 multiplied by the
latest state equalization rate.
B.
Any other local law, ordinance or resolution inconsistent herewith
is hereby repealed. This article expressly repeals and replaces any
prior local law adopted by this Board establishing such exemption.
A.
Pursuant to Subsection 2(c)(iii) of § 458-b of the NYS
Real Property Tax Law, the exemption authorized shall apply to qualifying
owners of qualifying real property for as long as they remain qualifying
owners, without regard to the ten-year limitation otherwise stated
therein.
B.
Any other local law, ordinance or resolution inconsistent herewith
is hereby repealed. This article expressly repeals and replaces any
prior local law adopted by this Board establishing such exemption.
This article shall take effect immediately upon its filing in
the Office of the Secretary of State and be effective with the 2018
assessment roll.
