City of Glens Falls, NY
Warren County
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Table of Contents
Table of Contents
[Adopted 4-25-2006 by L.L. No. 2-2006]
The purpose of this law is to provide for an increase in the cap or maximum exempt amount for veterans tax exemptions allowable in accordance with the New York State Real Property Tax Law, § 458-a.
In accordance with New York State Real Property Tax Law § 458-a, Subdivision 2(d), the maximum veterans exemption allowable from real property taxes 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 $27,000 or the product of $27,000 multiplied by the latest state equalization rate for the assessing unit.
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 or the Armed Forces Expeditionary Medal, Navy Expeditionary Medal, Marine Corps Expeditionary Medal or Global War on Terrorism Expeditionary 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 $18,000 or the product of $18,000 multiplied by the latest state equalization rate for the assessing unit.
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 Veterans' Administration or 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 veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $90,000 or the product of $90,000 multiplied by the latest state equalization rate for the assessing unit. For purposes of this subsection, where a person who has served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.