[Adopted 10-16-2008 by L.L. No. 3-2008[1]]
[1]
Editor's Note: This local law also provided
that it shall apply to assessment rolls prepared on the basis of taxable
status dates occurring on or after 1-1-2009.
This article shall be entitled "Cold War Veterans
Exemption Law of the Town of Minden."
This article is enacted pursuant to the provisions
of § 458-b of the Real Property Tax Law of the State of
New York, as the same may be amended from time to time.
Real property in the Town of Minden which meets
the requirements for qualified residential real property, as defined
in § 458-b of the Real Property Tax Law, shall be exempt
from taxation by the Town of Minden to the extent authorized therein,
subject to the following maximum exemption.
Qualifying residential real property shall be
exempt from taxation by the Town of Minden 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. In addition, 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.
[Added 11-16-2017 by L.L.
No. 3-2017]
The exemption authorized by this article shall apply to qualifying
owners of qualifying real property for so long as they remain qualifying
owners as provided for in § 458-b of the Real Property Tax
Law.
