[Adopted 1-25-1985 by L.L. No. 2-1985]
The purpose of this article is to reduce the
maximum veterans exemption allowable pursuant to § 458-a
of the Real Property Tax Law of the State of New York.
A.
Qualifying residential real property (as defined in
the above-mentioned section) 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 $6,000 or the product
of $6,000 multiplied by the latest state equalization rate for the
Town of South Bristol.
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 defined in the above-mentioned section) 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 $4,000 or the product of $4,000 multiplied by the latest state equalization rate for the Town of South Bristol.
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 $20,000 or the product of $20,000 multiplied by the latest state equalization rate for the Town of South Bristol.
