[Adopted 10-14-2008 by L.L. No. 7-2008[1] (Ch. 51B of the 1968 Code)]
[1]
Editor's Note: This local law was approved by the Mayor 10-14-2008.
This article shall be entitled "Cold War Veterans Real Property Tax Exemption Law of the Village of Fairport."
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.
All applicable provisions of § 458-b of the Real Property Tax Law of New York State, including all subdivisions, together with any and all appropriate amendments thereto, are hereby approved and adopted as and for law and procedures of the Village of Fairport, except where provisions of this article or any other local law or ordinance of the Village of Fairport shall prescribe differently. In such event, compliance with the provisions of such local law or ordinance shall constitute proper compliance with this article.
[Amended 12-9-2019 by L.L. No. 5-2019]
A. 
Qualifying residential real property shall be exempt from taxation by the Village of Fairport to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed $8,000. 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.
B. 
The exemption authorized by this section shall apply to qualifying owners of qualifying real property for as long as they remain qualifying owners, without regard to such ten year limitation.
The Village Board may, from time to time, amend, supplement, change, modify or repeal this article pursuant to the provisions of the Village Law, the General Municipal Law and the Real Property Tax Law of New York State applicable thereto.
This article shall become effective immediately upon completion of filing with the Secretary of State and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after January 1, 2009.