[Adopted 1-18-1996 by L.L. No. 1-1996[1] (Ch. 198, Art. II, of the 1994 Code)]
[1]
Editor's Note: This local law also provided that it shall
be applicable to tax years commencing 1-1-1997.
This article shall be entitled "Veterans Tax Exemption."
The purpose of this article is to enact a residential real property
tax exemption for veterans residing in the Town of Lowville, which
tax exemption is permitted by Real Property Tax Law § 458-a.
The definitions contained in § 458-a, Subdivision
1, of the Real Property Tax Law of the State of New York are hereby
incorporated in this article as if they had been set forth at length
herein.
A.
Qualifying residential real property located in the Town of Lowville
shall be exempt from Town real property 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 assessing
unit, whichever is less.
B.
In addition to the exemption provided by Subsection A, where the veteran served in a combat theater or combat zone of operations, as documented by the award of the United States campaign ribbon or service medal, or the armed forces expeditionary medal, navy expeditionary medal, marine corps expeditionary medal, or global war on terrorism expeditionary medal, qualifying residential real property located in the Town shall also be exempt from Town real property 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, whichever is less.[1]
C.
In addition to the exemptions provided by Subsections A and B, 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 real property located in the Town shall be exempt from Town real property taxation to the extent of the product of the assessed value of such property multiplied by 50% of the veterans 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, whichever is less. For purposes of this Subsection C, where a person who served in the 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 been assigned a compensation rating of 100%.
Application for exemption must be made by the owner, or all
of the owners, of the property on a form prescribed by the Commissioner
of Taxation and Finance. Such completed form shall be filed in the
office of the Assessor of the Town on or before the appropriate taxable
status date.
