[Adopted 1-11-2011 by L.L. No. 1-2011]
Pursuant to the authority granted by § 458-b of the
Real Property Tax Law of the State of New York providing a property
tax exemption for qualified owners who served on active duty in the
United States armed forces between September 2, 1945, and December
26, 1991, and who were honorably discharged. The exemption shall be
15% of the assessed value of the qualifying residential property;
provided however, that such exemption shall not exceed $12,000 or
the product of $12,000 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.
