[Adopted 8-18-2008 by L.L. No. 2-2008[1]]
[1]
Editor's Note: This local law also provided that the exemption
for Cold War veterans would take effect and apply to the 2008 Fulton
County assessment rolls to be used in computing the 2009 Town tax
and would continue to apply in subsequent years until amended or revoked.
[Amended 12-18-2017 by L.L. No. 3-2017]
A.
In accordance with Real Property Tax Law § 458-b, the Town
of Johnstown grants an exemption to qualifying residential real property
of 15% of the assessed value of such real property, provided such
exemption does not exceed $12,000 or the product of $12,000 multiplied
by the latest state equalization rate of the Town, whichever is less,
together with the additional exemption set forth in § 458-b,
Subdivision 2(b) of the Real Property Tax Law.
B.
It is the intention of the Town that this exemption shall apply to
qualifying owners of qualifying real property for as long as they
remain qualifying owners, without regard to the ten-year limitation
that may otherwise apply.
