[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:
Full-time duty in the United States Armed Forces, other than
active duty for training.
The United States Army, Navy, Marine Corps, Air Force and
Coast Guard.
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.
The latest final equalization rate established by the State
Board pursuant to Article 12 of the Real Property Tax Law.
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.
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.
