[Adopted 1-13-1986 by L.L. No. 1-1986 [1]]
[1]
Editor's Note: This local law also repealed
L.L. No. 2-1984.
The purpose of this article is to provide for
the maximum veterans exemption allowable pursuant to § 458-a
of the Real Property Tax Law of the State of New York.
Pursuant to the provisions of Subdivision 2(d)
of § 458-a of the Real Property Tax Law of the State of
New York, the maximum veterans exemption from real property taxes
allowable pursuant to § 458-a of the Real Property Tax Law
is established as follows:
A.
Qualifying residential real 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 $12,000 or the product of $12,000 multiplied by the latest state
equalization rate for the Incorporated Village of Roslyn Harbor.
B.
In addition to the exemption provided by Subsection A of this section, where the veteran served in a combat theater or combat zone of operations, as documented by the award of a 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 $8,000 or the product of $8,000 multiplied by the latest state equalization rate for the Incorporated Village of Roslyn Harbor.
C.
In addition to the exemptions provided by Subsections A and B of this section, where the veteran received a compensation rating from the United States Veterans 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 $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the Incorporated Village of Roslyn Harbor.
