[Adopted 8-7-2008 by L.L. No. 5-2008[1]]
[1]
Editor's Note: This local law provided an
effective date of 8-7-2008.
As used in this article, the following terms
and phrases shall have the following meanings:
Full-time duty in the United States Armed Forces, other than
active duty for training.
The United States Army, Navy, Marine Corps, Air Force, and
Coast Guard.
A person, male or female, who served on active duty 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.
The latest final equalization rate established by the State
Board pursuant to Article 12 of this chapter.[1]
A Cold War veteran, the spouse of a Cold War veteran, or
the unremarried surviving spouse of a deceased Cold War veteran. Where
property is owned by more than one qualified owner, the exemption
to which each is entitled may be combined. Where a veteran is also
the unremarried surviving spouse of a veteran, such person may also
receive any exemption to which the deceased spouse was entitled.
Property owned by a qualified owner which is used exclusively
for residential purposes; provided, however, that in the event that
any portion of such property is not used exclusively for residential
purposes, but is used for other purposes, such portion shall be subject
to taxation and only the remaining portion used exclusively for residential
purposes shall be subject to the exemption provided by this section.
Such property shall be the primary residence of the Cold War veteran
or the unremarried surviving spouse of a Cold War veteran, unless
the Cold War veteran or unremarried surviving spouse is absent from
the property due to medical reasons or institutionalization.
With respect to disability or death, that such disability
was incurred or aggravated, or that the death resulted from a disability
incurred or aggravated, in the line of duty on active military, naval
or air service.
[1]
Editor's Note: "This chapter" refers to Chapter
50-a of the Consolidated Laws of the State of New York.
The purpose of this article is to grant a partial
exemption from real property taxation to the extent of 15% of the
assessed value up to $12,000 of assessed value of qualified residential
real property which is owned by a Cold War veteran who is a qualified
owner, or in the case of a Cold War veteran who is a qualified owner
and who received a compensation rating from the United States Veterans
Administration or from the United States Department of Defense because
of a service-related disability, to the extent of the product of the
assessed value of such qualified residential real property multiplied
by 50% of the Cold War veteran's disability rating up to an assessed
valuation of $40,000 of assessed value, in accordance with the requirements
of § 458-b of the Real Property Tax Law.
Qualified residential real property owned by
qualified owners who are Cold War veterans shall be exempt from county
real property taxes to the extent as follows:
A.
To the extent of 15% of the assessed value of such
qualified residential real 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, whichever
is less.
B.
In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United State Veterans Administration or from the United States Department of Defense because of a service-connected disability, to the extent of the product of the assessed valuation of such qualified residential real property multiplied by 50% of the Cold War veteran's 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, whichever is less.
If a Cold War veteran has a real property tax
exemption under § 458 or § 458-a of the Real Property
Tax Law, such veteran shall not be eligible to receive this exemption.
[Amended 2-1-2018 by L.L.
No. 1-2018]
The exemption shall be granted to qualifying owners of real
property as long as they remain qualifying owners.
Application for the exemption shall be made
by the qualified owner on a form prescribed by the State Board. The
owner shall file the completed form in the local assessor's office
on or before the appropriate taxable status date.
