[Adopted 3-1-2010 by L.L. No. 2-2010]
The purpose of this article is to increase the maximum exemption allowable pursuant to § 458-b of the Real Property Tax Law of the State of New York.
A. 
Qualifying residential real property 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 Village of Victor.
B. 
In addition to the exemption provided in Subsection A, where the veteran received a compensation rating from the United States Veterans' 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 Village of Victor.
C. 
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 the ten-year limitation referenced in New York Real Property Tax Law § 458-b.
[Added 12-4-2017 by L.L. No. 2-2017]
Insofar as the provisions of this article are inconsistent with the provisions of any other local law or act, the provisions of this article shall be controlling.