[Adopted 2-11-2014 by L.L. No. 2-2014]
The Village of Plandome wishes to provide a partial residential real property tax exemption to Cold War veterans who served in active duty from September 2, 1945, through December 26, 1991, as authorized by § 458-b of the Real Property Tax Law of the State of New York.
For the purpose of this article, the following words shall have the meanings stated:
ACTIVE DUTY
Full-time duty in the United States Armed Forces, other than active duty for training.
ARMED FORCES
The United States Army, Navy, Marine Corps, Air Force and Coast Guard.
SERVICE-CONNECTED DISABILITY
A disability or death which occurred in the line of duty on active military, naval or air service.
To qualify for the Cold War veterans exemption, the following conditions must be satisfied:
A. 
The applicant must reside in the Village of Plandome;
B. 
The property must be the primary residence of the applicant;
C. 
The property must be used exclusively for residential purposes. In the event any portion of the property is used for nonresidential purposes, such portion shall be subject to taxation.
D. 
The property must be owned by the veteran, the spouse of the veteran, or the surviving spouse of a deceased Cold War veteran who has not remarried; and
E. 
The veteran must have been discharged or released under honorable conditions.
A. 
A Cold War veteran receiving the eligible funds veterans exemption or the alternative veterans exemption shall not be eligible to receive the exemption provided in this article.
B. 
The exemption provided in this article shall be granted for a period of 10 years.
A. 
The maximum exemption allowable to qualifying residential real property exempt from taxation under § 458-b of the New York State Real Property Tax Law is 15% of the assessed value of such property, not to exceed $12,000, multiplied by the latest state equalization rate for the Village of Plandome.
B. 
In addition to the exemption provided in Subsection A of this section, where the Cold War Veteran received a compensation rating from the United States Veterans Affairs 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, except that such exemption shall not exceed the product of $40,000 multiplied by the latest state equalization rate for the Village of Plandome.