[Adopted 8-21-1996 by L.L. No. 3-1996]
All veterans currently enjoying an exemption under the current
veterans exemption granted by the Town may continue to do so or elect
the alternate veterans exemption set forth below.
[Amended 6-20-2001 by L.L. No. 3-2001]
All persons enjoying an existing veterans exemption may, and
any persons applying for a veterans exemption after the effective
date of this article for the first time, shall have their exemption
determined in accordance with this section and § 458-a of
the Real Property Tax Law.
A.
Qualifying residential 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 $12,000 or the product
of $12,000 multiplied by the latest state equalization rate for the
Town or, in the case of a special assessing unit, the latest class
ratio, whichever is less.
B.
In addition to the exemption provided in Subsection A above, where the veteran served in a combat theater or a combat zone of operation, as documented by the award of United State campaign ribbon or service medal, or the armed forces expeditionary medal, navy expeditionary medal, marine cops expeditionary medal, or global war on terrorism expeditionary medal, qualifying residential property shall also be exempt from taxation to the extent of 10% of the assessed value of such 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 assessing unit or, in the case of a special assessing unit, the class ratio, whichever is less.
[Amended 8-21-2013 by L.L. No. 2-2013]
C.
In addition to the exemptions granted by Subsections A and B of this section, where the veteran received a compensation rating from the United States Veterans Administration or from the United States Department of Defense because of a service-connected disability, qualifying residential property shall be exempt from taxation to the extent of the product of the assessed value of the property multiplied by 50% of the veteran's disability rating; provided, however, that such exemption shall not exceed $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less. For the purposes of this subsection, where a person has served in active military, naval, or air service during a period of war, died in service of a service-connected disability, such person shall be deemed to have assigned a compensation of 100%.
[Added 6-20-2001 by L.L. No. 3-2001]
The exemption from taxation provided by this article shall be
applicable to county, city, Town, and village taxation, but shall
not be applied to taxes levied for school purposes.
