This article is enacted pursuant to Real Property Tax Law (RPTL)
§ 458-a. All terms and definitions of RPTL § 458-a
shall be equally applicable in this article.
As authorized by RPTL § 2(d)(ii), Ulster County hereby
elects to increase the exemption amounts to the maximum levels allowable.
The maximum exemptions are as follows: for exemptions pursuant to
Paragraph 2(a), 15% or a maximum of $45,000 multiplied by the latest
state equalization rate; for exemptions pursuant to Paragraph 2(b),
10% or a maximum of $30,000 multiplied by the latest state equalization
rate; and for exemptions pursuant to Paragraph 2(c), the product of
the assessed value multiplied by 1/2 of the compensation rating of
the veteran, multiplied by the latest state equalization rate with
a maximum of $150,000.