[Adopted 9-1-2005 by L.L. No. 4-2005]
[Amended 4-3-2008 by L.L.
No. 1-2008]
The maximum exemptions allowable pursuant to Paragraphs (a),
(b), and (c) of Subdivision 2 of § 458-a of the Real Property
Tax Law shall be equal to the maximum exemptions allowable pursuant
to Real Property Tax Law § 458-a(2)(d)(ii), and as same
may be hereafter amended.
A.
Gold Star Parents, as defined in Real Property Tax
Law § 458-a, Subdivision 7(a), are deemed to be included
within the definition of "qualified owner," as provided in Real Property
Tax Law § 458-a, Subdivision 1(c).
B.
Property owned by a Gold Star Parent is deemed to
be included within the definition of “qualified residential
real property,” as provided in Real Property Tax Law § 458-a,
Subdivision 1(d), provided that such property shall be the primary
residence of the Gold Star Parent, as provided by § 458-a,
Subdivision 7(b), of the Real Property Tax Law.
C.
The additional exemption provided for in Real Property
Tax Law § 458-a, Subdivision 2(c), shall not apply to real
property owned by a Gold Star Parent.
[Added 12-4-2008 by L.L.
No. 4-2008; amended 2-1-2018 by L.L. No. 1-2018]
The maximum exemptions allowable pursuant to Real Property Tax
Law § 458-b shall be 15% of the property's assessment, not
to exceed $12,000 multiplied by the latest finals state equalization
rate for service during the "Cold War" and a percentage of the property's
assessment equal to 1/2 of any service connected disability rating,
not to exceed $40,000 multiplied by the latest final state equalization
rate. Pursuant to Chapter 290 of the New York State Laws of 2017,
it is intended that this exemption shall remain in effect indefinitely
or until such time as it is revoked by local law or authorizing state
legislation requires modification.
