[Adopted 5-15-2008 by L.L. No. 1-2008]
The purpose of this article is to adopt a real property tax
exemption in Orange County for Cold War Veterans authorized by Real
Property Tax Law § 458-b.
A.
The Town
of Montgomery hereby adopts the real property tax exemption for Cold
War veterans as authorized by Real Property Tax Law § 458-b.
"Qualifying residential real property" shall be exempt from taxation
to the extent provided for in Real Property Tax Law § 458-b,
Subdivision 2(a)(ii), 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.
B.
In addition
to the exemption provided by Real Property Tax Law § 458-b
Subdivision 2(a), the Town Board hereby adopts the following disability
exemption as provided in Subdivision 2(b) of said law: where the Cold
War Veteran received a compensation rating from the United States
Department of 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; 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.
[Added 3-1-2018 by L.L.
No. 1-2018]
A.
Title. This section shall be referred to as "A Local Law of the Town
of Montgomery Exercising Certain Options With Regard To A Real Property
Tax Exemption For Cold War Veterans As Authorized By Real Property
Tax Law § 458-b."
B.
Purpose. The purpose of this section is to remove the ten-year limitation
on the exemption provided by Local Law No. 1 of the year 2008 of the
Town of Montgomery in relation to real property tax exemption in the
Town of Montgomery for Cold War veterans as authorized by Real Property
Tax Law § 458-b.
C.
Exemption. As authorized by Chapter 290 of the Laws of 2017 of the
State of New York, which amended Subparagraph (iii) of Paragraph (c)
of Subdivision 2 of § 458-b of the Real Property Tax Law,
the exemption previously authorized by the Town of Montgomery through
Town of Montgomery Local Law No. 1 of the year 2008 shall apply to
qualifying owners of qualifying real property for as long as such
person(s) remain qualifying owners, without regard to the previously
existing ten-year limitation.
D.
Authority. This section is enacted pursuant to the New York Municipal
Home Rule Law.
