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Town of Wallkill, NY
Orange County
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Table of Contents
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New Laws (1) Index
[Adopted 1-24-2008 by L.L. No. 2-2008[1]]
[1]
Editor's Note: This local law also provided for the renumbering of former Art. IV, consisting of §§ 216-10 through 216-17, as Art. V, consisting of §§ 216-12 through 216-19; and former Art. V, consisting of §§ 216-18 through 216-20, as Art. VI, consisting of §§ 216-20 through 216-22.
A. 
Pursuant to the authority of Paragraph 2 of § 458-b of the Real Property Tax Law, as set forth in Chapter 655 of the Laws of 2007 and amendments thereto, qualifying residential real property of Cold War veterans 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 $12,000 or the product of $12,000 multiplied by the latest state equalization rate of the assessing unit, or, in the case of a special assessing unit, the latest class ratio, whichever is less.
B. 
In addition to the exemption provided by Subsection A of § 216-10 of this article, 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 of the product of the assessed value of such property, multiplied by 50% of the Cold War veteran 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, or, in the case of a special assessing unit, the latest class ratio, whichever is less.
It is the intent and purpose of this article to afford qualifying Cold War veterans in the Town of Wallkill the maximum veterans exemptions allowed under §§ 458, 458-a and 458-b of the Real Property Law in this state.
[Added 2-22-2018 by L.L. No. 1-2018]
As authorized by Chapter 290 of the Laws of 2017 of the State of New York, which amended Subparagraph (iii) of Paragraph (c) of Subdivision 2 of § 458-b of the Real Property Tax Law, the exemption previously authorized by the Town Board under Local Law Number 2 of 2008 and Town Code Section Chapter 216, Article IV, shall apply to qualifying owners of qualifying real property for as long as such person(s) remain qualifying owners, without regard to the previously existing ten-year limitation set forth in Real Property Tax Law § 458-b.