[Adopted 5-9-2013 by L.L. No. 5-2013]
This article shall be known as the "Cold War Veterans Property
Tax Exemption Act."
A.
The New York State Legislature amended the New York State Real Property
Tax Law to authorize the Town of Owasco and other jurisdictions to
enact a real property tax exemption for Cold War Veterans under Real
Property Tax Law § 458-b.
B.
The state legislation was intended to provide Cold War veterans with
a real property tax exemption similar to tax exemptions given to other
wartime veterans.
C.
The Town of Owasco desires to extend similar tax exemptions to Cold
War veterans by this article.
D.
Cold War veterans served in the United States armed forces during
the time period from September 2, 1945, to December 20, 1991.
As used in this article, the following terms shall have the
meanings indicated:
Full-time duty in the United States armed forces, other than
active duty for training.
The United States Army, Navy, Marine Corps, Air Force and
Coast Guard.
A person, male or female, who served on active duty, other
than active duty for training, for a period of more than 365 days
in the United States armed forces during the time period from September
2, 1945, to December 26, 1991, and was discharged or released therefrom
under honorable conditions.
The latest final equalization rate established by the State
Board of Real Property Services pursuant to Article 12 of the New
York State Real Property Tax Law.
A Cold War veteran, the spouse of a Cold War veteran, or
the unremarried surviving spouse of a deceased Cold War veteran. Where
property is owned by more than one qualified owner, the exemption
to which each is entitled may be combined. Where a veteran is also
an unremarried surviving spouse of a veteran, such person may also
receive any exemption to which the deceased spouse was entitled.
Property owned by a qualified owner which is used exclusively
for residential purposes; provided, however, that in the event that
any portion of such property is not used exclusively for residential
purposes, but is used for other purposes, such portion shall be subject
to taxation, and only the remaining portion used exclusively for residential
purposes shall be subject to the exemption provided by this article.
Such property shall be the primary residence of the Cold War veteran
or the unremarried surviving spouse of a Cold War veteran, unless
the Cold War veteran or unremarried surviving spouse is absent from
the property due to medical reasons or institutionalization.
With respect to disability or death, that such disability
was incurred or aggravated, or that the death resulted from a disability
incurred or aggravated, in the line of duty on active military, naval
or air service.
As authorized by Real Property Tax Law § 458-b, the
Town of Owasco is hereby opting into the Cold War veterans' partial
real property tax exemption to the extent of 15% of the first $80,000
of assessed value on qualified residential real property.
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 $12,000 or the product
of $12,000 multiplied by the latest state equalization rate of the
assessing unit, or in the case of a special assessing unit, the latest
class ratio, whichever is less; and
B.
In addition to the exemption provided in this article, where the
Cold War veteran received a compensation rating from the United States
Veterans Affairs Office or from the United States Department of Defense
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 Cold
War veteran 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.
A.
The exemption from taxation provided by this article shall be applicable
to Town of Owasco real property taxes but shall not be applicable
to special district taxes of the Town of Owasco.
B.
If a Cold War veteran receives an exemption under § 458
or § 458-b of the New York State Real Property Tax Law,
the Cold War veteran shall not be eligible to receive the exemption
provided by this article.
C.
The exemption provided by § 130-15 of this article shall be granted for a period of 10 years. The commencement of such ten-year period shall be governed pursuant to this subsection. Where a qualified owner owns qualifying residential real property on the effective date of this article, such ten-year period shall be measured from the assessment roll prepared pursuant to the first taxable status date occurring on or after the effective date of this article. Where a qualified owner does not own qualifying residential real property on the effective date of this article, such ten-year period shall be measured from the assessment roll prepared pursuant to the first taxable status date occurring at least 60 days after the date of purchase of qualifying residential real property; provided, however, that should the veteran apply for and be granted an exemption on the assessment roll prepared pursuant to a taxable status date occurring within 60 days after the date of purchase of a residential property, such ten-year period shall be measured from the first assessment roll in which the exemption occurs. If, before the expiration of such ten-year period, such exempt property is sold and replaced with other residential real property, such exemption may be granted pursuant to this subsection for the unexpired portion of the ten-year exemption period.
D.
Application for exemption shall be made by the owner, or all of the
owners, of the property on a form prescribed by the state, subject
to the terms and conditions set forth in Real Property Tax Law § 458-b.
E.
This article may be repealed by the Town of Owasco. Any such repeal
shall occur at least 90 days prior to the taxable status date of the
Town of Owasco.
