[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."
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.