[Adopted 12-2-1996 by L.L. No. 9-1996; amended in its entirety 10-13-1998 by L.L. No. 9-1998]
This Legislature finds and determines that the sacrifices and services provided by veterans in protecting this country should be acknowledged by providing certain tax exemptions.
[Added 10-10-2000 by L.L. No. 6-2000; amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
A. 
For purposes of extending alternative veterans real property tax exemptions to Gold Star Parents as authorized by Chapter 326 of the Laws of New York for 2000, in Real Property Tax Law § 458-a, a "Gold Star Parent" shall be defined as the parent of a child who died in the line of duty while serving in the United State Armed Forces during a period of war. A Gold Star Parent shall be deemed to be eligible for the exemption for qualifying residential real property under §§ 270-74 and 270-75 of this article, provided that such property is the primary residence of the Gold Star Parent.
B. 
This section shall take effect January 1, 2001, and shall apply to assessment rolls prepared on the basis of a taxable status date occurring on or after such date.
C. 
The additional exemption provided for in § 270-75 of this article shall not apply to real property owned by a Gold Star Parent.
[Amended 11-14-2005 by L.L. No. 5-2005]
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 $36,000 or the product of $36,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less.
[Amended 11-14-2005 by L.L. No. 5-2005]
In addition to the exemption provided by § 270-74 of this article, where the veteran served in a combat theater or combat zone of operation, as 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 $24,000 or the product of $24,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the class ratio, whichever is less.
[Amended 11-14-2005 by L.L. No. 5-2005]
In addition to the exemptions provided by §§ 270-74 and 270-75 of this article, where the veteran received a compensation rating from the United States Veteran's Administration or from the United States Department of Defense 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 $120,000 or the product of $120,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less. For the purposes of this article, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.
[Amended 11-14-2005 by L.L. No. 5-2005]
This article shall take effect on January 2, 2006, and shall apply to assessment rolls prepared on the basis of a taxable status date occurring on or after such date.