[Adopted 11-12-2008 by L.L. No. 1-2008]
This article is adopted pursuant to the authorization granted
by Real Property Tax Law § 458-b. All definitions, terms
and conditions of such statute apply to this article.
A.
Pursuant
to Subdivision 2(c)(iii) of § 458-b of the New York State
Real Property Tax Law, the exemption authorized shall apply to qualifying
owners of qualifying real property for as long as they remain qualifying
owners, without regard to such ten-year limitation.
[Added 2-27-2018 by L.L.
No. 1-2018]
Qualifying residential property owned by a Cold War veteran,
or other qualified owner, shall be entitled to a partial exemption
from taxation to the extent of 15% of the assessed valuation, not
to exceed $12,000 or the product of $12,000 multiplied by the latest
state equalization rate. Additionally, where the Cold War veteran
received a compensation rating from the United States 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 if the product of the assessed value of such
property, multiplied by 50% of the Cold War veterans disability rating,
not to exceed $40,000 or the product of $40,000 multiplied by the
latest state equalization rate.
This article shall take effect immediately upon its filing in
the office of the Secretary of State and be effective with the 2009
assessment roll.
