[Adopted 11-25-2008 by L.L. No. 2-2008]
The purpose of this article is to adopt the Cold War veterans
property tax exemption and set a basic ten-percent assessment reduction,
capped at $8,000 for military service and 1/2 their service-connected
disability rating, capped at $40,000, as authorized by § 458-b
of the Real Property Tax Law.
Pursuant to § 458-b of the Real Property Tax Law of
the State of New York, the Town hereby adopts Local Law No. 2-2008
of the Town of Lenox, granting the Cold War veterans tax exemption.
Pursuant to § 458-b of the Real Property Tax Law,
the Town hereby sets the basic ten-percent assessment reduction, capped
at $8,000, allowable for active duty service between September 2,
1945 and December 26, 1991, for those veterans who do not currently
receive either the eligible funds or alternative veterans exemption.
Pursuant to § 458-b of the Real Property Tax Law,
the Town hereby sets additional exemption for disabled veterans at
1/2 their service-connected disability rating, capped at $40,000.
[Amended 11-13-2023 by L.L. No. 9-2023]
"Qualifying real property," as that term is defined by § 458-b
of the New York State Real Property Tax Law, situate in the bounds
of the Town of Lenox, owned by a "Cold War veteran," as that term
is provided in § 458-b of the New York State Real Property
Tax Law, shall be partially exempt from taxation for real property
taxes to be levied by the Town of Lenox, to the extent authorized
by § 458-b of the New York State Real Property Tax Law and
provided for in this chapter, for as long as the Cold War veteran
owns such qualifying real property, without regard to the ten-year
limitation previously provided for.
