[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.
[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.