Town of Esopus, NY Alternative Veterans Tax Exemption

[Amended 2-2-2023 by L.L. No. 3-2023]

The real property tax exemptions provided in NY Real Property Tax Law § 458-a (entitled "Veterans, alternative exemption") shall be available to those eligible veterans and other qualified owners in the Town, subject to the requirements and limitations set forth in NY Real Property Tax Law § 458-a and in this article.

Maximum allowable exemptions.

(1)

Qualifying residential real property, as that term is defined in NY Real Property Tax Law § 458-a(1)(d), shall be exempt from taxation to the extent of 15% of the assessed value of such property; provided, however, that such exemption shall not exceed $45,000 or the product of $45,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less.

(2)

In addition to the exemption provided by Subsection A and B(1) of this section, where the veteran served in a combat theatre or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, or the Armed Forces Expeditionary Medal, Navy Expeditionary Medal, Marine Corps Expeditionary Medal, or Global War on Terrorism Expeditionary Medal, qualifying residential real property also shall be exempt from taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed $30,000 or the product of $30,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the class ratio, whichever is less.

(3)

In addition to the exemptions provided by Subsections A, B(1) and B(2) of this section, where the veteran received a compensation rating from the United States Veteran's Administration or from the United States Department of Defense because of a service 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 veteran's disability rating; provided, however, that such exemption shall not exceed $150,000 or the product of $150,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less. For purposes of this subsection, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.