[Adopted 1-28-1985 by L.L. No. 1-1985; amended in its entirety 3-12-2001 by L.L. No.
1-2001]
The purpose of this article is to increase the maximum veterans
exemption allowable pursuant to § 458-a of the Real Property
Tax Law of the State of New York.
Pursuant to the provisions of Subdivision 2(d) of § 458-a
of the Real Property Tax Law of the State of New York, the maximum
veterans exemption from real property taxes allowable pursuant to
§ 458-a of the Real Property Tax Law is established as follows:
A.
Qualifying 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 the lesser of $21,000
or the product of $21,000 multiplied by the latest state equalization
rate for the Town of Mount Hope.
B.
In addition to the exemption provided by Subsection A of this section, where the veteran served in a combat theatre or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, qualifying residential real property also shall be exempt from taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed the lesser of $14,000 or the product of $14,000 multiplied by the latest state equalization rate for the Town of Mount Hope.
C.
In addition to the exemption provided by Subsections A and B of this section, where the veteran received a compensation rating from the United States Veterans' Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $70,000 or the product of $70,000 multiplied by the latest state equalization rate for the Town of Mount Hope.
