Town of Esopus, NY Article IV Cold War Veterans Exemption

[Adopted 2-15-2018 by L.L. No. 1-2018]

§ 109-15 Findings.

Section 458-b of the Real Property Tax Law of the State of New York authorizes a limited exemption from real property taxes for residential real property owned by honorably discharged veterans who rendered military service to the United States during the "Cold War" as said terms are defined in Real Property Tax Law § 458-b. Said Law authorizes municipalities to establish maximum exemption amounts.

§ 109-16 Exemption granted.

In accordance with the provisions of § 458-b of the Real Property Tax Law of the State of New York, residential real property owned by honorably discharged veterans who rendered military service to the United States during the Cold War (as said terms are defined in Real Property Tax Law § 458-b) shall be exempt from Town taxation to the extent set forth below.

§ 109-17 Exemption amount.

[Amended 2-2-2023 by L.L. No. 4-2023]

A. The maximum exemptions allowable from Town real property taxation pursuant to § 458-b of the Real Property Tax Law shall be 15% of the assessed value of said real property; provided, however, that said exemption shall not exceed $45,000 or the product of $45,000 multiplied by the latest state equalization rate for the Town of Esopus.

B. In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United States Veterans Affairs or from the United States Department of Defense because of a service-related 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 Cold War veteran disability rating; provided, however, that such exemption shall not exceed $150,000 or the product of $150,000 multiplied by the latest state equalization rate for the Town of Esopus.

C. If a Cold War veteran receives either a veterans' exemption authorized by NY Real Property Tax Law § 458 or an alternative veterans' exemption authorized by NY Real Property Tax Law § 458-a, the Cold War veteran shall not be eligible to receive an exemption under this article.

§ 109-18 Length of exemption.

[Amended 2-2-2023 by L.L. No. 4-2023]

In accordance with the provisions of NY Real Property Tax Law § 458-b, the exemptions provided in § 109-17A and B of this article shall apply to qualified owners of qualified residential property for as long as they remain qualified owners.

§ 109-19 When effective.

This article shall take effect immediately upon filing same with the New York State Secretary of State.