[Adopted 7-16-2015 by L.L. No. 2-2015 (Ch. 41, Art. VII, of the 1972
Code)]
The Incorporated Village of Malverne hereby recognizes alternative
veterans exemptions for veterans who served in the armed forces during
periods of war as designated in Real Property Tax Law § 458-a.
Pursuant to § 458-a of the New York State Real Property
Tax Law, the Incorporated Village of Malverne, in exercise of the
option granted by Subdivision 2(d)(ii) of § 458-a, hereby
selects the following as the maximum exemptions allowable pursuant
to Paragraphs (a), (b), (c) and (d) of Subdivision 2 of § 458-a:
A.
Alternative non-combat veterans exemption: 15% of assessed value,
with a maximum of $27,000, or the product of $27,000 multiplied by
the latest state equalization rate, whichever is less.
B.
Alternative combat veterans exemption: 25% of assessed value, with
a maximum of $45,000, or the product of $45,000 multiplied by the
latest state equalization rate, whichever is less.
C.
Alternative non-combat or combat veterans with a disability rating:
50% of the veteran's disability rating multiplied by the assessed
value, with a maximum of $90,000, or the product of $90,000 multiplied
by the latest state equalization rate, whichever is less.
