Pursuant to the provisions of Subdivision 2(d) of § 458-a
of the Real Property Tax Law of the State of New York, the maximum
veterans exemption from real property taxes allowable pursuant to § 458-a
of the Real Property Tax Law is established as follows:
A. 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 the lesser of $6,000
or the product of $6,000 multiplied by the latest state equalization
rate for the County of Jefferson.
B. In addition to the exemption provided by Subsection
A of this section, where the veteran served in a combat theatre or combat zone of operations, and documented by the award of a United States campaign ribbon or service medal, qualifying residential real property also 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 the lesser of $4,000 or the product of $4,000 multiplied by the latest equalization rate for the County of Jefferson.
C. In addition to the exemptions provided by Subsections
A and
B of this section, where the veteran received a compensation rating from the United States Department of Veterans Affairs 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 veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $20,000 or the product of $20,000 multiplied by the latest state equalization rate for the County of Jefferson.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]