Pursuant to Subdivision 2(a) of § 458-b of the New York State Real Property Tax Law, the Town of Hoosick hereby adopts the qualifying residential real property exemption under Subdivision 2(a)(i) of § 458-b of the NYS Real Property Tax Law; that is, an exemption in the amount of 10% of the assessed value of such property; provided, however, that such exemption, as permitted by Subdivision 2(c)(iii), shall not exceed $8,000 or the product of $8,000 multiplied by the latest state equalization rate of such property's assessing unit, such exemption to be subject to the definitions, limitations and requirements of § 458-b.
[Adopted 3-12-2018 by L.L. No. 2-2018]
Pursuant to Subdivision 2(b) of § 458-b of the Real Property Tax Law, the Town of Hoosick hereby adopts the qualifying residential real property exemption under Subdivision 2(b) of § 458-b of the New York State Real Property Tax Law; that is, an exemption in the amount equal to the extent of the product of the assessed value of such property, multiplied by 15% of the Cold War veteran disability rating; provided, however, that such exemption as permitted by Subdivision 2(c)(iii) shall not exceed $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the assessing unit.
Pursuant to Subdivision 2(c)(iii) of § 458-b of the New York State Real Property Tax Law, the exemption authorized shall apply to qualifying owners of qualifying real property in the Town of Hoosick for as long as they remain qualifying owners, without regard to any ten-year limitation.
If any clause, sentence, paragraph or section of this article shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not impair or invalidate the remainder hereof, but shall be confined to its operation to the clause, sentence, paragraph or section directly involved in the controversy in which judgment shall have been rendered.
This article shall take effect immediately upon its filing with the Secretary of State and shall be applicable to all assessment rolls prepared pursuant to the first taxable status date occurring on or after the effective date of this article.