The purpose of this article is to authorize the Incorporated
Village of Farmingdale to grant a real property tax exemption to Cold
War veterans in accordance with § 458-b of the Real Property
Tax Law of the State of New York.
The terms used in this article shall have the same meaning as
set forth in § 458-b of the Real Property Tax Law.
In accordance with, and subject to, § 458-b of the
Real Property Tax Law, qualifying real property within the Incorporated
Village of Farmingdale shall be exempt from taxation by the Village.
In no event shall the term and the amount of the exemption exceed
the limitations as set forth in § 458-b of the Real Property
Tax Law.
If a veteran receives an exemption pursuant to the authority
set forth in § 458 or 458-a of the New York State Real Property
Tax Law, no exemption shall be permitted pursuant to this article.
This article shall take effect immediately upon filing with
the Secretary of the State of New York.