The Common Council of the City of Kingston,
New York, accepts the alternative veterans exemption under § 458-a
of the Real Property Tax Law.
[Added 7-7-2009 by L.L. No. 7-2009, approved 7-28-2009; amended 1-9-2018 by L.L. No. 1-2018, approved 1-23-2018]
The maximum exemptions allowable from City real property taxation
pursuant to § 458-b of the Real Property Tax Law shall be
10% of the property’s assessment, not to exceed $8,000 multiplied
by the latest final state equalization rate for service during the
Cold War and a percentage of the property’s assessment equal
to 1/2 of any service-connected disability rating not to exceed $40,000
multiplied by the latest final state equalization rate. This exemption
shall apply to qualifying owners without regard to the ten-year limitation.
The purpose of this article is to increase the
maximum veterans exemption allowable pursuant to § 458-a
of the Real Property Tax Law of the State of New York.
Pursuant to the provisions of Subdivision 2(d)
of § 458-a of the Real Property Tax Law of the State of
New York, the maximum veterans exemption from real property taxes
allowable pursuant to § 458-a of the Real Property Tax Law
is established as follows:
A. Qualifying residential real property 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 the lesser
of $24,000 or the product of $24,000 multiplied by the latest state
equalization rate for the City of Kingston, New York.
B. In addition to the exemption provided by Subsection
A of this section, where the veteran served in a combat theater or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, qualifying residential real property also shall be exempt from taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed the lesser of $16,000 or the product of $16,000 multiplied by the latest state equalization rate for the City of Kingston, New York.
C. In addition to the exemptions provided by Subsections
A and
B of this section, where the veteran received a compensation rating from the United States Veteran's Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $80,000 or the product of $80,000 multiplied by the latest state equalization rate for the City of Kingston, New York.