[Adopted 11-6-2008 by L.L. No. 7-2008]
This article shall be known as "Local Law No. 7 of the Year 2008, entitled Cold War Veterans Law of the Town of Marilla" amending Chapter 399 of the Code of the Town of Marilla, adopted on December 14, 2006 by Local Law No. 2 of the Year 2006, to add an exemption for Cold War veterans.
The purpose of this article is to amend Chapter 399 of the Code of the Town of Marilla to provide a new real property tax exemption to qualified Cold War veterans in the Town of Marilla.
This article is adopted pursuant to the authority
of § 458-b, Subdivision 2(a)(ii), of the New York State
Real Property Tax Law, for veterans not receiving compensation as
a result of a service-related disability and as authorized by § 458-b,
Subdivision 2(b) of the New York State Real Property Tax Law for veterans
receiving compensation as a result of a service-related disability.
All definitions, procedures, terms and conditions of such statute
shall apply to this article.
A.
For Cold War veterans not having a service-connected
disability, each qualified veteran being an owner of qualifying residential
real property shall receive an exemption on such qualifying residential
real property equal to 15% of the assessed value of such property;
provided, however, such exemption shall not exceed $12,000 or the
product of $12,000 multiplied by the latest state equalization rate
of the Town of Marilla, whichever is less.
B.
For Cold War veterans receiving a compensation rating from the United States Veterans Affairs or from the United States Department of Defense because of a service-connected disability, being an owner of qualifying residential real estate, in addition to the benefits received under Subsection A above shall receive an exemption on such qualifying residential real property equal to the product of the assessed value of the such qualified residential real 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 Town of Marilla, whichever is less.
C.
The exemption provided by Subsection A of this section shall be granted for so long as the veteran remains a qualifying owner of property that qualifies for such exemption without regard to the ten-year period referenced in the New York State Real Property Tax Law § 458-b.
[Amended 1-11-2018 by L.L. No. 1-2018]
