Town of Esopus, NY
Ulster County
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Table of Contents
Table of Contents
[Adopted 2-15-2018 by L.L. No. 1-2018]
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.
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.
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.
The exemption set forth in this article shall remain in effect indefinitely or until such time as it is revoked by local law, or until authorizing state legislation requires modification.
This article shall take effect immediately upon filing same with the New York State Secretary of State.