[Adopted 11-10-2008 by L.L. No. 5-2008]
In accordance with the provision of § 458-b of the
Real Property Tax Law of the State of New York, residential real property
owned by veterans who rendered military service to the United States
during the Cold War and/or certain members of their family shall be
partially exempt from Town taxation for a period of no more than 10
years.
The maximum exemptions allowable from Town real property taxation
pursuant to § 458-b of the Real Property Tax Law shall be
15% of the property's assessment, not to exceed $9,000 multiplied
by the latest final state equalization rate for service during the
Cold War and a percentage of the property's assessment equal to 1/2
of any service-connected disability rating not to exceed $30,000 multiplied
by the latest final state equalization rate. Each exemption is limited
to a ten-year duration.
