[Adopted 11-13-2007 by L.L. No. 12-2007; amended in its entirety
at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
Section 458-b of the Real Property Tax Law of the State of New
York provides the Town of Hamlin with the option to adopt specified
levels of exempt value for qualifying veterans.
In accordance with Real Property Tax Law § 458-b,
Subdivision 2(a)(i) and (b), the Town adopts the limits as follows:
A.
Ten percent of the assessed value of such property; provided, however,
that such exemption shall not exceed $8,000 or the product of $8,000
multiplied by the latest state equalization rate.
B.
Where the Cold War veteran received a compensation rating 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 or the product of $40,000 multiplied by the
latest state equalization rate.
[Added 11-29-2017 by L.L.
No. 6-2017]
Pursuant to the provisions of Real Property Tax Law § 458-b2(c),
the exemption authorized by 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 which would be applicable
in the absence of this section.
