[Adopted by L.L. No. 3-1997 (Ch. 240, Art. II, of the 1989 Code)]
Except as provided herein, the eligibility of owners and residential
property for the real property tax exemption granted by this section
shall be determined pursuant to the applicable provisions of the New
York State Real Property Tax Law ("RPTL"). The terms used in this
section shall have the meanings defined in RPTL § 458-a.
[Amended by L.L. No. 3-2001]
Pursuant to the authority granted by RPTL § 458-a,
Subdivision 2(d)(i), the following maximum exemptions allowable under
RPTL § 458-a, Subdivision 2(a), (b) and (c) are established
as follows:
A.
For veterans and property qualifying under RPTL § 458-a,
Subdivision 2(a) up to 15% of the assessed value of such property,
provided, however, that such exemption shall not exceed $27,000.
B.
In addition to the exemption provided by RPTL § 458-a.
Subdivision 2 qualifying residential property under RPTL § 458-a,
Subdivision 2(b) 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 $18,000.
C.
In addition to the exemption provided by RPTL § 458-a,
Subdivision 2(a) and (b), qualifying residential property under RPTL
§ 458-a, Subdivision 2(c) 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 $90,000.[1]
