Village of Fonda, NY
Montgomery County
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[HISTORY: Adopted by the Board of Trustees of the Village of Fonda as indicated in article histories. Amendments noted where applicable.]
[Adopted 12-10-1979 by L.L. No. 1-1979; amended in its entirety at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
A partial exemption from taxation to the extent of 50% of the assessed valuation of real property which is owned by certain persons with limited income who are 65 years of age or older meeting the requirements set forth in § 467 of the Real Property Tax Law is hereby granted.
The maximum income level for the fifty-percent exemption is established at $29,000.
[Adopted 6-9-1998 by L.L. No. 1-1998]
This article shall be entitled "Veterans Increased Maximum Exemption as Authorized by Chapter 477 of the Laws of 1996 of the State of New York."
A. 
The Village Board of the Village of Fonda finds and determines that the sacrifices and services provided by the veterans in protecting this country should be acknowledged by providing certain tax exemptions.
B. 
Chapter 477 of the Laws of 1996 of the New York State Legislature amended Subparagraph (ii) of Paragraph (d) of Subdivision 2 of § 458-a of the Real Property Tax Law authorizing the adoption of a local law to increase the maximum tax exemptions for veterans.
C. 
The purpose of this article is to adopt increased maximum tax exemptions for veterans, as authorized by Chapter 477 of the Laws of New York for 1996.
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 $15,000 or the product of $15,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest ratio, whichever is less.
In addition to the exemption provided by § 147-5 of this article, where the veteran served in a combat theater or combat zone of operation, 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 $10,000 or the product of $10,000 multiplied by the latest state equalization rate for the assessing unit the latest class ratio, whichever is less.
In addition to the exemptions provided by §§ 147-5 and 147-6 of this article, where the veteran received a compensation rating from the United States Veteran's Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed $50,000 or the product of $50,000 multiplied by the latest state equalization rate for the assessing unit, the latest class ratio, whichever is less. For the purposes of this article, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.
This article granting the increased maximum tax exemption for veterans, as authorized by Chapter 477 of the Laws of 1996 of the State of New York, shall take effect and apply to the 1998 Village of Fonda assessment rolls to be used in computing the 1999 Village tax, and shall continue to apply to the Village of Fonda assessment rolls thereafter until amended.