Village of Cobleskill, NY Article VI Tax Exemption for Cold War Veterans

[Adopted 3-20-2018 by L.L. No. 1-2018]

§ 140-26 Intent and purpose.

It is the intent of the Village Board, by adopting this section, to grant the maximum exemption authorized by the New York State Real Property Tax Law, to Cold War veterans.

§ 140-27 Authority.

A. Section 458-B of the Real Property Tax Law authorizes a limited exemption from real property taxes for residential real property owned by veterans who rendered military service to the United States during the Cold War; and

B. Section 458-B of the Real Property Tax Law authorizes municipalities to establish maximum exemption amounts; and

C. In regards to Cold War veterans who own residential real property within Schoharie County, it is the desire of the Village Board of the Village of Cobleskill to authorize the Cold War veterans exemption and establish maximum amounts.

§ 140-28 Exemption enacted.

A. In accordance with the provisions of § 458-B of the Real Property Tax Law, as amended, residential real property owned by veterans who rendered military service to the United States during the Cold War and/or certain members of their family shall be partially exempt from County taxation; and

B. The maximum exemptions allowable from county real property taxation pursuant to § 458-B of Real Property Tax Law shall be 15% of the property's assessment, not to exceed $9,000 multiplied by the latest final state equalization rate for service during the Cold War and a percentage of the property's assessment equal to 1/2 of any service connected disability rating not to exceed $30,000 multiplied by the latest final state equalization rate; and

C. This exemption shall apply to qualifying owners and/or certain members of their family, of qualifying real property for so long as they remain qualifying owners, without regard to the ten-year limitation.