[Adopted 12-7-2000 by L.L. No. 7-2000; amended in its entirety 3-20-2018 by L.L. No. 1-2018]
The purpose of this article is to permit the increase or decrease
of the amount of the exemption for eligible funds for veterans exemptions
in accordance with Real Property Tax Law § 458(5) by reason
of a revaluation or update of assessments of real property within
the Town.
Notwithstanding the limitation on the amount of exemption contained
in Real Property Tax Law § 458-b(1), if the total assessed
value of the real property for which an exemption has been granted
increases or decreases as the result of a revaluation or update of
assessments and a material change in the level of assessment, as provided
for in Real Property Tax Law Title 2 of Article 12 of Chapter 50-A
of the Consolidated Laws, is certified for the assessment roll pursuant
to the rules of the State Board of Real Property Services, the Assessor
shall increase or decrease the amount of such exemption by multiplying
the amount of such exemption by the change in level of assessment
factor.
The purpose of this article is to further enhance the maximum
real property tax exemption available under § 458-a of the
Real Property Tax Law to wartime, disabled and combat veterans and
their families.
A.
The maximum exemption allowable to qualifying residential real property
exempt from taxation, under § 458-a of the Real Property
Tax Law, to the extent of 15% of the assessed value, shall be increased
from $21,000 to $27,000.
B.
The maximum exemption allowable to veterans who served in a combat
theater or combat zone of operations, as documented by the award of
the United States Campaign Ribbon or Service Medal, under § 458-a
of the Real Property Tax Law, is hereby increased from $14,000 to
$18,000.
C.
The maximum exemption allowable, as an additional exemption available
to a veteran who has received a compensation rating from a New York
veterans organization or the United States Department of Defense because
of a service-connected disability, calculated as the product of the
assessed value multiplied by 50% of the veteran's disability rating
under § 458-a of the Real Property Tax Law, is hereby increased
from $70,000 to $90,000.
A.
Pursuant to the authority of § 458-b(2) of the Real Property
Tax Law, as set forth in Chapter 655 of the Laws of 2007, and amendments
thereto, qualifying residential real property of Cold War veterans
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 $12,000 or the product of $12,000 multiplied by the latest
state equalization rate of the assessing unit or, in the case of a
special assessing unit, the latest class ratio, whichever is less.
B.
In addition to any other exemptions provided by this chapter, where
the Cold War veteran received a compensation rating from the United
States Veterans Affairs or from the United States Department of Defense
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 Cold
War veteran 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 or, in the case
of a special assessing unit, the latest class ratio, whichever is
less.
C.
For purposes of this § 166-10, "Cold War veteran" is defined as a person, male or female, who served on active duty for a period of more than 365 days in the United States Armed Forces during the time period from September 2, 1945, to December 26, 1991, and was discharged or released therefrom under honorable conditions and has been awarded the Cold War Recognition Certificate as authorized under Public Law 105-85, the 1998 National Defense Authorization Act.
A.
A Gold Star Parent shall be within the definition of a "qualified
owner," as provided for in § 458-a(1)(c) of the Real Property
Tax Law, and to include property owned by a Gold Star Parent within
the definition of "qualifying residential real property," as provided
for in § 458-a(1)(d) of the Real Property Tax Law, provided
that such property shall be the primary residence of the Gold Star
Parent.
B.
The additional exemption provided for in § 458-a(2)(c)
of the Real Property Tax Law shall not apply to real property owned
by a Gold Star Parent.
