[Adopted 5-16-2018 by L.L. No. 3-2018]
This article shall be known as the "Real Property Tax Exemption
for Cold War Veterans Act."
A.Â
The State Legislature added a new § 458-b to New York State
Real Property Tax Law to authorize a real property tax exemption for
Cold War veterans which villages may opt into.
B.Â
The legislation is intended to provide Cold War veterans with a real
property tax exemption similar to tax exemptions given to wartime
veterans.
C.Â
Cold War veterans served in the United States Armed Forces during
the time period from September 2, 1945, to December 20, 1991.
As used in this article, the following terms shall have the
meanings indicated:
Full-time duty in the United States Armed Forces, other than
active duty for training.
A person, male or female, who served on active duty for a
period of more than 365 days in the United States Armed Forces, during
the time period from September 2, 1945, to December 26, 1991, was
discharged or released therefrom under honorable conditions and has
been awarded the Cold War recognition certificate as authorized under
Public Law 105-85, the 1998 National Defense Authorization Act.
The latest final state equalization rate or special equalization
rate established by the State Board pursuant to Article 12 of the
Real Property Tax Law. The State Board shall establish a special equalization
rate if it finds that there has been a material change in the level
of assessment since the establishment of the latest state equalization
rate, but in no event shall such special equalization rate exceed
100. In the event that the state equalization rate exceeds 100, then
the state equalization rate shall be 100 for the purposes of this
article. Where a special equalization rate is established for purposes
of this article, the Town of Ramapo Assessor is directed and authorized
to recompute the Cold War veterans exemption on the assessment roll
by applying such special equalization rate instead of the latest state
equalization rate applied in the previous year and to make the appropriate
corrections on the assessment roll, notwithstanding the fact that
such Assessor may receive the special equalization rate after the
completion, verification and filing of such final assessment roll.
In the event that the Assessor does not have custody of the roll when
such re-computation is accomplished, the Assessor shall certify such
re-computation to the local officers having custody and control of
such roll, and such local officers are hereby directed and authorized
to enter the re-computed Cold War veterans exemption certified by
the Assessor on such roll.
A Cold War veteran, the spouse of a Cold War veteran, or
the un-remarried surviving spouse of a deceased Cold War veteran.
Where property is owned by more than one qualified owner, the exemption
to which each is entitled may be combined. Where a veteran is also
the un-remarried surviving spouse of a veteran, such person may also
receive any exemption to which the deceased spouse was entitled.
Property owned by a qualified owner which is used exclusively
for residential purposes; provided, however, that in the event that
any portion of such property is not used exclusively for residential
purposes, but is used for other purposes, such portion shall be subject
to taxation and only the remaining portion used exclusively for residential
purposes shall be subject to the exemption provided by this article.
Such property shall be the primary residence of the Cold War veteran
or the un-remarried surviving spouse of a Cold War veteran, unless
the Cold War veteran or un-remarried surviving spouse is absent from
the property due to medical reasons or institutionalization for up
to five years.
With respect to disability or death, means that such disability
was incurred or aggravated, or that the death resulted from a disability
incurred or aggravated, in the line of duty on active military, naval
or air service.
As authorized by Real Property Tax Law § 458-b, the
Village of Montebello is hereby opting into the Cold War veteran partial
real property tax exemption to the extent of 15% of the first $80,000
of assessed value.
A.Â
Qualifying residential real property 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; and
B.Â
In addition to the exemption provided in 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.
C.Â
In accordance with the provisions of RPTL § 458-b and pursuant
to Chapter 290 of the New York State Laws of 2017, it is intended
that the Cold War exemption remain in effect indefinitely or until
such time as it is revoked by local law or authorizing state legislation
requires modification.
If a Cold War veteran receives the exemption under § 458
or 458-a of the New York State Real Property Tax Law, the Cold War
veteran shall not be eligible to receive the exemption under this
article.
Application for exemption shall be made by the owner, or all
of the owners, of the property on a form prescribed by the State Board
subject to the terms set forth in Real Property Tax Law § 458-b.
This article may be repealed by the Village. Such repeal shall
occur at least 90 days prior to the taxable status date of such Village.
Notwithstanding any other provision of law to the contrary,
the provisions of this article shall apply to any real property held
in trust solely for the benefit of a person or persons who would otherwise
be eligible for a real property tax exemption, pursuant to this article,
were such person or persons the owner or owners of such real property.
A.Â
For the proposes of this article, title to the portion of real property
owned by a cooperative apartment corporation in which a tenant-stockholder
of such corporation resides and which is represented by his or her
share or shares of stock in such corporation as determined by its
or their proportional relationship to the total outstanding stock
of the corporation, including that owned by the corporation, shall
be deemed to be vested in such tenant-stockholder.
B.Â
Provided that all other eligibility criteria of this article are
met, that proportion of the assessment of such real property owned
by a cooperative apartment corporation determined by the relationship
of such real property vested in such tenant-stockholder to such real
property owned by such cooperative apartment corporation in which
such tenant-stockholder resides shall be subject to exemption from
taxation pursuant to this article, and any exemption so granted shall
be credited by the appropriate taxing authority against the assessed
valuation of such real property; the reduction in real property taxes
realized thereby shall be credited by the cooperative apartment corporation
against the amount of such taxes otherwise payable by or chargeable
to such tenant-stockholder.
D.Â
Notwithstanding Subsection B of this section, real property owned by a cooperative corporation may be exempt from taxation pursuant to this article by a municipality in which such property is located only if the governing body of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor.
This article shall take effect immediately and shall apply to
taxable status dates occurring on or after January 2, 2018.
