[Adopted 12-28-2007 by L.L. No. 2-2007]
New York State Real Property Tax Law § 458-b authorizes
a partial exemption from real property taxes on a qualifying residential
real property for Cold War veterans, as defined in the Real Property
Tax Law § 458-b.
The terms "Cold War veterans," "service connected," "qualified
owner," "qualified residential real property," and "latest state equalization
rate," when referenced in this article, shall have the definition(s)
ascribed to them in Real Property Tax Law § 458-b(1).
A.
Pursuant
to § 458-b(2)(a) of the Real Property Tax Law, the Town
of Tusten is authorized to adopt a local law establishing a partial
exemption from the Town portion of real property taxes for Cold War
veterans or qualified owners who own qualified residential real property
within the Town of Tusten. It is the desire of the Town of Tusten
Town Board to provide for such exemption on Town of Tusten properties
to reward Cold War veterans for their valued service to our country.
B.
The real
property tax exemption granted by this article shall apply to qualifying
owners for qualifying real property for as long as they remain qualifying
owners, without regard to the ten-year limitation contained in Real
Property Tax Law § 458-b(2)(c)(iii).
[Added 2-13-2018 by L.L.
No. 1-2018]
[Amended 2-13-2018 by L.L. No. 1-2018]
Pursuant to § 458-b(2)(a)(ii) of the Real Property
Tax Law, the maximum exemption allowable from the Town of Tusten real
property taxes shall be 15% of the qualifying residential real property
assessment ,not to exceed $12,000 or the product of $12,000 multiplied
by the latest state equalization rate of the assessing unit, whichever
is less. The real property tax exemption granted by this article shall
apply to qualifying owners for qualifying real property for as long
as they remain qualifying owners, without regard to the ten-year limitation
contained in Real Property Tax Law § 458-b(2)(c)(iii).
Pursuant to § 458-b(2)(b) of the Real Property Tax Law, there shall be an exemption in addition to the exemption provided in § 247-23 above for a Cold War veteran who received a compensation rating from the United States Veterans Affairs Office from the United States Department of Defense because of a service-connected disability. This exemption shall be equal to the product of the assessed value of the qualifying residential real property multiplied by 50% of the Cold War veteran's disability rating; provided, however, that such exemption shall not exceed $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the assessing unit, whichever is less.
If a Cold War veteran receives an exemption pursuant to Real
Property Tax Law § 458 or § 458-a, the Cold War
veteran shall not be eligible to receive the exemption established
by this article.
