[Adopted 4-10-2018 by L.L. No. 2-2018]
A. 
Pursuant to Subdivision 2(a) of § 458-b of the New York State Real Property Tax Law (RPTL), the Village of Dundee determines to provide that qualifying residential real property owned by Cold War Period veterans shall be exempt from taxation to the extent of 10% of the assessed value of such property, provided that pursuant to Subdivision 2(c)(iii) of § 458-b of the New York State Real Property Tax Law, such exemption shall not exceed $4,000 or the product of $4,000 multiplied by the latest state equalization rate of the assessing unit. The granting of such exemption shall be subject to the provisions of said RPTL § 458-b.
B. 
Pursuant to Subdivision 2(b) of Real Property Tax Law § 458-112.(b), the Village of Dundee determines that in addition to the exemption provided for in Subsection A hereof, where the Cold War Period veteran received a compensation rating based upon 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% by the Cold War Period Veteran's disability rating; provided, however, that, pursuant to Subdivision 2(b)(iii) of § 458-b of the New York State Real Property Tax Law, such exemption shall not exceed $20,000 or the product of $20,000 multiplied by the latest state equalization rate for the assessing unit. The granting of such exemption shall be subject to the provision of said RPTL § 458-b.
C. 
Pursuant to Subdivision 2(c)(iii) of § 458-b of the New York State Real Property Tax Law, the exemption authorized by § 458-b of the New York State Real Property Tax Law shall apply to qualifying owners of qualifying real property for as long as they remain qualifying owners thereof, without regard to the statutory ten-year limitation.