[Adopted 2-6-1996 by L.L. No. 1-1996]
This article shall be entitled "Veterans Tax Exemption."
The purpose of this article is to enact a residential real property tax exemption for veterans residing in the Village of Lowville, which tax exemption is permitted by Real Property Tax Law § 458-a.
The definitions contained in § 458-a, Subdivision (1), of the Real Property Tax Law of the State of New York are hereby incorporated in this article as if they had been set forth at length herein.
A. 
Qualifying residential real property located in the Village of Lowville shall be exempt from village real property taxation to the extent of 15% of the assessed value of such property; provided, however, that such exemption shall not exceed $12,000 or the product of $12,000 multiplied by the latest state equalization rate for the assessing unit, whichever is less.
B. 
In addition to the exemption provided by Subsection A, 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 located in the village shall also be exempt from village real property taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed $8,000 or the product of $8,000 multiplied by the latest state equalization rate for the assessing unit, whichever is less.
C. 
In addition to the exemptions provided by Subsections A and B, 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 located in the village shall be exempt from village real property 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 $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the assessing unit, whichever is less. For purposes of this Subsection C, 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%.
[Added 1-30-2008 by L.L. No. 2-2008]
The Village Board of the Village of Lowville hereby amends its alternative veterans exemption to implement the provisions of Real Property Tax Law § 458-a, Subdivision 7(b), to extend to the parent of a child who died in the line of duty while serving in the U.S. Armed Forces during a period of war the same exemption which his or her child would have been eligible for as follows:
A. 
Noncombat zone (child was not in a combat zone): exemption equals 15%.
B. 
Combat zone (child was in a combat zone): exemption equals 25%.
Application for exemption must be made by the owner, or all of the owners, of the property on a form prescribed by the State Office of Real Property Services. Such completed application shall be filed in the office of the Assessor of the Town of Lowville on or before the appropriate taxable status date.
This article shall be effective upon filing with the Secretary of State of the State of New York, to be applicable to tax years based on the tax roll established March 1, 1996.