[Adopted 10-14-2010 by L.L. No. 2-2010]
Pursuant to the authority contained in § 458-b of
the Real Property Tax Law of the State of New York, the Cold War veterans
exemption is hereby adopted, and shall be applicable to qualifying
residential real property within the Town of Eaton, as defined in
said § 458-b, as of January 1, 2011, and for the preparation
of the 2011 assessment roll of the Town of Eaton.
A.
For purposes of the exemption provided in Subdivision 2(a) of said
§ 458-b of the Real Property Tax Law of the State of New
York, qualifying residential real property within the Town of Eaton,
as defined in said § 458-b, shall be exempt from taxation
to the extent of 10% of the assessed value of the qualifying residential
real property; provided, however, that such exemption shall not exceed
$8,000 or the product of $8,000 multiplied by the latest state equalization
rate for the Town of Eaton.
B.
For purposes of the exemption provided in Subdivision 2(b) of said
§ 458-b of the Real Property Tax Law of the State of New
York, the exemption for qualifying residential real property within
the Town of Eaton, as defined in said § 458-b, shall not
exceed $40,000 or the product of $40,000 multiplied by the latest
state equalization rate for the Town of Eaton.
