[Adopted 2-26-1997 by L.L. No. 3-1997]
Pursuant to the provisions of Subdivision 2
of § 458-a of the Real Property Tax Law of the State of
New York, the maximum veterans exemption from real property taxes
levied by the Village of LeRoy allowable pursuant to § 458-a
of the Real Property Tax Law is established as follows.
Qualifying residential 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 $15,000 or the product of $15,000 multiplied by the latest state
equalization rate for the assessing unit in which said property is
located.
In addition to the exemption provided by § 188-24, where the veteran served in a combat theater or combat zone of operations, as documented by the award of the 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 $10,000 or the product of $10,000 multiplied by the latest state equalization rate for the assessing unit in which said property is located.
In addition to the exemptions provided by §§ 188-24 and 188-25, 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 $50,000 or the product of $50,000 multiplied by the latest state equalization rate for the assessing unit in which said property is located.
