[Adopted 2-26-2008 by L.L. No. 2-2008; amended in its entirety 3-9-2010 by L.L. No.
1-2010]
The purpose of this article is to grant a real property tax
exemption to Cold War veterans who meet the requirements set forth
in § 458-b of the New York State Real Property Tax Law.
As used in this article, the following terms shall have the
meanings indicated:
Full-time duty in the United States Armed Forces, other than
active duty for training.
The United States Army, Navy, Marine Corps, Air Force, and
Coast Guard.
A person, male or female, who served on active duty in the
United States Armed Forces during the time period from September 2,
1945, to December 26, 1991, was discharged or released therefrom under
honorable conditions and satisfies any other requirements set forth
in § 458-b(1)(a) of the New York State Real Property Tax
Law.
The latest final class ratio established by the New York
State Board of Real Property Tax Services pursuant to Title 1 of Article
12 of the New York State Real Property Tax Law for use in a special
assessing unit as defined in § 1801 of the New York State
Real Property Tax Law.
The latest final equalization rate established by the New
York State Board of Real Property Tax Services pursuant to Article
12 of the New York State Real Property Tax Law; state equalization
rate or special equalization rate established by the New York State
Board of Real Property Tax Services pursuant to Article 12 of the
New York State Real Property Tax Law. The New York State Board of
Real Property Tax Services shall establish a special equalization
rate if it finds that there has been a material change in the level
of assessment since the establishment of the latest state equalization
rate, but in no event shall such special equalization rate exceed
100%. In the event that the state equalization rate exceeds 100%,
then the state equalization rate is established for purposes of this
article. Where a special equalization rate is established for purposes
of this article, the Assessor is directed and authorized to recompute
the Cold War veterans exemption on the assessment roll by applying
such special equalization rate instead of the latest state equalization
rate applied in the previous year and to make the appropriate corrections
on the assessment roll, notwithstanding the fact that such Assessor
may receive the special equalization rate after completion, verification
and filing of such final assessment roll. In the event that the Assessor
does not have custody of the roll when such recomputation is accomplished,
the Assessor shall certify such recomputation to the local officers
having custody and control of such roll, and such local officers are
hereby directed and authorized to enter the recomputed Cold War veterans
exemption certified by the Assessor on such roll.
A Cold War veteran, the spouse of a Cold War veteran, or
the unremarried surviving spouse of a deceased Cold War veteran. Where
property is owned by more than one qualified owner, the exemption
to which each is entitled may be combined. Where a veteran is also
the unremarried surviving spouse of a veteran, such person may also
receive any exemption to which the deceased spouse was entitled.
Property owned by a qualified owner which is used exclusively
for residential purposes; provided, however, that in the event that
any portion of such property is not used exclusively for residential
purposes, but is used for other purposes, such portion shall be subject
to taxation and only the remaining portion used exclusively for residential
purposes shall be subject to the exemption provided by this article.
Such property shall be the primary residence of the Cold War veteran
or the unremarried surviving spouse of a Cold War veteran, unless
the Cold War veteran or unremarried surviving spouse is absent from
the property due to medical reasons or institutionalization subject
to such time limitations, if any, as are set forth in § 458-b(1)(f)
of the New York State Real Property Tax Law.
With respect to disability or death, such disability was
incurred or aggravated, or the death resulted from a disability incurred
or aggravated, in the line of duty on active military, naval or air
service.
[Amended 4-5-2022 by L.L. No. 4-2022]
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 $75,000 or the product
of $75,000 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.
B.
In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United States Department of Veterans Affairs or from the United States Department of Defense because of a service-related 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 $250,000 or the product of $250,000 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.
C.
If a Cold War veteran receives either a veterans exemption, authorized by § 458 of the Real Property Tax Law, or an alternative veterans exemption under Article IV of this chapter, authorized by § 458-a of the Real Property Tax Law, the Cold War veteran shall not be eligible to receive an exemption under this article.
The provisions of this article shall apply to any real property
held in trust solely for the benefit of a person or persons who would
otherwise be eligible for a real property tax exemption, pursuant
to this article, were such person or persons the owner or owners of
such real property.
A.
For the purpose of this article, title to the portion of real property
owned by a cooperative apartment corporation in which a tenant-stockholder
of such corporation resides and which is represented by his or her
share or shares of stock in such corporation as determined by its
or their proportional relationship to the total outstanding stock
of the corporation, including that owned by the corporation, shall
be deemed to be vested in such tenant-stockholder.
B.
Provided that all other eligibility criteria of this article are
met, that proportion of the assessment of such real property owned
by a cooperative apartment corporation determined by the relationship
of such real property vested in such tenant-stockholder to such real
property owned by such cooperative apartment corporation in which
such tenant-stockholder resides shall be subject to exemption from
taxation pursuant to this article and any exemption so granted shall
be credited by the appropriate taxing authority against the assessed
valuation of such real property. The reduction in real property taxes
realized thereby shall be credited by the cooperative apartment against
the amount of such taxes otherwise payable by or chargeable to such
tenant-stockholder.
[Amended 4-10-2018 by L.L. No. 1-2018]
In accordance with the provisions of § 458-b of the Real Property Tax Law as amended by Chapter 290 of the Laws of 2017, the exemption authorized by Subsection A of § 269-28 of this article shall apply to qualifying owners of qualifying real property for as long as they remain qualifying owners, without regard to the ten-year limitation.
Application for the exemption set forth in this article shall
be made by the qualified owner, or all of the qualified owners, of
the property on a form prescribed by the New York State Board of Real
Property Tax Services. The owner or owners shall file the completed
form in their local Assessor's office on or before the first appropriate
taxable status date. The owner or owners of the property shall be
required to refile at such times and under such circumstances as may
be set forth in § 458-b(4) of the New York State Real Property
Tax Law. Any applicant convicted of willfully making any false statement
in the application for such exemption shall be subject to the penalties
prescribed in the New York State Penal Law.
