[Adopted 10-1-1984 by L.L. No. 4-1984 (Art. IV of Ch. 41
of the 1965 Code of the Village of Warsaw)]
Chapter 525 of the Laws of 1984[1] amends the Real Property Tax Law to provide a uniform
real property tax exemption for veterans.
[1]
Editor's Note: See §§ 458 and 458-a of
the Real Property Tax Law.
[Amended 2-4-1985 by L.L. No. 2-1985]
The Village of Warsaw hereby elects to adopt Chapter 525 of
the Laws of 1984 as follows:
A.
A qualified veteran receives an exemption equal to 15% of the assessed
value, but not to exceed $6,000; or the product of $6,000 multiplied
by the latest state equalization rate for the assessing unit or, in
the special assessing units, the latest class ratio, whichever is
less.
B.
In addition, 10% of assessed value for a qualifying veteran who has
served in a combat theater or combat zone of operations. This additional
exemption is not to exceed $4,000; or the product of $4,000 multiplied
by the latest state equalization rate for the assessing unit or, in
special assessing units, the latest class ratio, whichever is less.
C.
In addition, an exemption based on the product of the assessed value
multiplied by 50% of the veteran's disability rating, where compensation
rating has been received from the Veteran's Administration for
a service-connected disability. This exemption shall not exceed $20,000
multiplied by the latest state equalization rate for the assessing
unit or, in special assessing units, the latest class ratio, whichever
is less.
