[Adopted 5-18-2021 by L.L. No. 1-2021]
The purpose of this article is to exempt from taxes levied by the Town of Owego, pursuant to NYS Real Property Tax Law § 458-a, certain real property owned by a Cold War veteran.
The Owego Town Board is authorized to adopt and/or amend the within article pursuant to NYS Real Property Tax Law § 458-b, Subdivision 2, and by NYS Municipal Home Rule Law § 10.
For purposes of this article, the following terms shall have the meanings indicated:
ACTIVE DUTY
Full-time duty in the United States Armed Forces, other than active duty for training.
ARMED FORCES
The United States Army, Navy, Marine Corps, Air Force and Coast Guard.
COLD WAR VETERAN
A person who served on active duty for a period of more than 365 days in the United States Armed Forces during the time period from September 2, 1945, to December 26, 1991, was discharged or released therefrom under honorable conditions and has been awarded the Cold War Recognition certificate as authorized under Public Law 105-85, of the 1998 National Defense Authorization Act.
LATEST STATE EQUALIZATION RATE
The latest final equalization rate established by the State Board pursuant to Article 12 of the Real Property Tax Law.
QUALIFIED OWNER
A Cold War veteran, the spouse of a Cold War veteran, or the unremarried surviving spouse of a deceased Cold War veteran. Where property is owned by more than one qualified owner, the exemption to which each is entitled may be combined. Where a veteran is also the unremarried surviving spouse of a veteran, such person may also receive any exemption to which the deceased spouse was entitled.
QUALIFIED RESIDENTIAL REAL PROPERTY
Property owned by a qualified owner which is used exclusively for residential purposes; provided, however, that in the event that any portion of such property is not used exclusively for residential purposes, but is used for other purposes, such portion shall be subject to taxation and only the remaining portion used exclusively for residential purposes shall be subject to the exemption provided by this article. Such property shall be the primary residence of the Cold War veteran or the unremarried surviving spouse of a Cold War veteran, unless the Cold War veteran or unremarried surviving spouse is absent from the property due to medical reasons or institutionalization for up to five years.
From and after the effective date of this article, real property located within the Town of Owego and owned by a Cold War veteran, or other qualified owner and used by the Cold War veteran or other qualified owner as a primary residence, shall be deemed qualifying residential real property and shall be exempt from taxes levied by the Town to the extent the assessed value of such property shall be reduced by $4,000 and subject to the same rules and regulations as provided by Real Property Tax Law § 458-a, as the same may be amended from time to time.
A. 
If the Cold War veteran receives the exemption under any other section of the Real Property Tax Law that provides for veterans exemptions, the Cold War veteran shall not be eligible to receive the exemption under this article.
B. 
The exemption provided by under this article shall be granted for a period of 10 years. Where a qualified owner owns qualifying residential real property on the effective date of this article, such ten-year period shall be measured from the assessment roll prepared pursuant to the first taxable status date occurring on or after the effective date of this article. Where a qualified owner does not own qualifying residential real property on the effective date of this article, such ten-year period shall be measured from the assessment roll prepared pursuant to the first taxable status date occurring at least 60 days after the date of purchase of qualifying residential real property; provided, however, that should the veteran apply for and be granted an exemption on the assessment roll prepared pursuant to a taxable status date occurring within 60 days after the date of purchase of residential real property, such ten-year period shall be measured from the first assessment roll in which the exemption occurs. If, before the expiration of such ten-year period, such exempt property is sold and replaced with other residential real property, such exemption may be granted pursuant to this article for the unexpired portion of the ten-year exemption period.
C. 
Application for exemption shall be made by the owner, or all of the owners, of the property on a form prescribed by the State Board. The owner or owners shall file the completed form in the Assessor's office on or before the first appropriate taxable status date. Any applicant convicted of willfully making any false statements in the application for such exemption shall be subject to the penalties prescribed in the Penal Law.