Pursuant to the authority granted by § 458-b of the Real
Property Tax Law, real property in the Town of Greece which meets
the requirements for qualified residential real property, as defined
in said section, shall be exempt from taxation by the Town of Greece
to the extent authorized therein, subject to the following maximum
exemption.
Qualified residential real property shall be exempt from taxation
by the Town of Greece to the extent of 10% of the assessed value of
such property; provided, however, that such exemption shall not exceed
$8,000. In addition, where a Cold War veteran received compensation
from the United States Veterans Affairs or from the United States
Department of Defense because of a service-related 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.
Such exemption shall be granted only upon application by the owners
of such real property on a form prescribed by the State Board of Real
Property Services. The application shall be filed with the Town Assessor
on or before the first appropriate taxable status date for the Town
of Greece.
The Town Board may, from time to time, amend, supplement, change,
modify or repeal this article pursuant to the provisions of the Town
Law, the General Municipal Law and the Real Property Tax Law of New
York State applicable thereto.
The Cold War Veterans Exemption authorized by § 458-b of
the Real Property Tax Law, and as detailed in this section, is extended
pursuant to Chapter 290 of the Laws of 2017. Any such exemption shall
apply to qualifying owners of qualifying real property for as long
as they remain qualifying owners.