Section 458-b of the Real Property Tax Law authorizes a limited
exemption from real property taxes for residential real property owned
by veterans who rendered military service to the United States during
the Cold War; and § 458-b of the Real property Tax Law authorizes
municipalities to establish maximum exemption amounts; and in regards
to Cold War veterans who own residential real property within the
Town of Hurley, it is the desire of the Hurley Town Board to authorize
the Cold War veterans exemption and establish maximum amounts applicable
to qualifying owners of qualifying real property for as long as they
remain qualifying owners.
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 veterans who rendered military service to the United States during the Cold War shall be partially exempt from Town taxation in accordance with the percentages set forth in §
189-6 hereof.
Pursuant to § 458-b(2)(a)ii of the Real Property Tax
Law, said maximum exemption allowable from Town real property taxation
shall be 15% of the property's assessment, not to exceed $12,000,
or the product of $12,000 multiplied by the latest final state equalization
rate, whichever is less.
Pursuant to § 458-b(2)(b) of the Real Property Tax
Law, where a Cold War veteran received a compensation rating from
the United States Veterans Affairs or from the United States Department
of Defense because of a severe connected 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 $40,000, or the product of $40,000 multiplied by
the latest equalization rate, whichever is less.
Pursuant to § 458-b(2)(c)iii, notwithstanding the
ten-year limitation imposed by the foregoing provisions of this sub
paragraph, a county, city, town, village or school district that has
adopted a local law or resolution pursuant to paragraph (a) of this
subdivision may adopt a local law providing that the exemption authorized
by this section shall apply to qualifying owners of qualifying real
property for as long as they remain qualifying owners, without regards
to such ten-year limitation.
If any section or part of this article, or application thereof
to any person or circumstances, is adjudged invalid or unconstitutional,
then such adjudication shall not invalidate or impair the validity
or force of effect of any other section or part of this article or
the application of this article, or any section, provision, or part
thereof, to other persons or circumstances.