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.
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
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.
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
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
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.