The purpose of this article is to provide for the maximum veterans
exemption allowable pursuant to § 458-a of the Real Property
Tax Law of the State of New York.
[Amended 10-16-2006 by L.L. No. 3-2006]
Pursuant to the provisions of Subdivision 2(d) of § 458-a
of the Real Property Tax Law of the State of New York, the maximum
veterans exemption from real property taxes allowable pursuant to
§ 458-a of the Real Property Tax Law is established as follows:
A. Qualified residential real property shall be exempt from taxation
to the extent of 15% of the assessed value of such property; provided,
however, that such exemption shall not exceed the lesser of $36,000
or the product of $36,000 multiplied by the latest state equalization
rate for each town in Washington County.
B. In addition to the exemption provided by Subsection
A of this section, where the veteran served in a combat theater or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, qualifying residential real property shall be exempt from taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed the lesser of $24,000 or the product of $24,000 multiplied by the latest state equalization rate for each town in Washington County.
C. In addition to the exemptions provided by Subsections
A and
B of this section, where the veteran received a compensation rating from the United States Veterans Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $120,000 or the product of $120,000 multiplied by the latest state equalization rate for each town in Washington County.