In accordance with the authorization of § 458-b of
the Real Property Tax Law, a limited exemption from real property
taxation by the Town of Saugerties is granted for residential real
property owned by veterans who rendered military service to the United
States of America during the Cold War (defined as September 2, 1945,
to December 26, 1991) as set forth in Real Property Tax Law § 458-b.
[Amended 8-15-2018 by L.L. No. 2-2018]
In accordance with the authorization of § 458-b of
the Real Property Tax Law, the maximum exemptions allowable from Town
real property tax shall be 10% of the property's assessment, not to
exceed $8,000, multiplied by the latest final state equalization rate.
Where a cold war veteran has received a service-connected disability
rating from the Veteran's Administration or the Department of Defense,
in accordance with the authorization of § 458-b of the Real
Property Tax Law, there shall be an additional assessment exemption
from Town real property tax equal to 1/2 of the disability rating,
not to exceed $40,000, multiplied by the latest final state equalization
rate.
The limited exemption from real property taxes shall not apply
to school taxes, special ad valorem levies or special assessments,
as provided by Real Property Tax Law § 458-b.