[Amended 10-7-1997 by L.L. No. 5-1997; 12-20-2006 by Res. No.
6]
In accordance with the authorization of Subparagraph
(ii) of Paragraph (d) of Subdivision 2 of § 458-a of the
Real Property Tax Law, the maximum allowable exemption of Paragraphs
(a), (b) and (c) of Subdivision 2 of § 458-a of such law
is hereby increased to $54,000, $36,000 and $180,000, respectively.
[Added 11-8-2006 by Res. No. 9]
The Assessor shall transfer and prorate a veteran’s
exemption on real property when the veteran or eligible relative sells
the property and purchases a replacement within the same city, town
or village.
[Added 11-8-2007 by Res. No. 7]
A. Definitions. As used in this section, the following
words 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, male or female, 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, the 1998 National Defense Authorization Act.
LATEST CLASS RATIO
The latest final class ratio established by the state board
pursuant to Title 1 of Article 12 of this chapter for use in a special assessing unit as
defined in § 1801 of this chapter.
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 section.
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.
SERVICE CONNECTED
With respect to disability or death, that such disability
was incurred or aggravated, or that the death resulted from a disability
incurred or aggravated, in line of duty on active military, naval
or air service.
B. Amount of exemption; limitations.
(1)
Qualifying residential real property 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
$12,000 or the product of $12,000 multiplied by the latest state equalization
rate of 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
B(1) of this subsection, where the Cold War veteran received a compensation rating from the United States Veterans Affairs 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 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 state equalization rate for the assessing unit, or, in the case of a special assessing unit, the latest class ratio, whichever is less.
(3)
Limitations.
(a)
The exemption from taxation provided by this
subsection shall be applicable to county, Town, and village taxation,
but shall not be applicable to taxes levied for school purposes.
(b)
If a Cold War veteran receives the exemption
under § 458 or 458-a of this title, the Cold War veteran shall not be eligible to receive
the exemption under this section.
(c)
The maximum exemption allowable in subparagraphs
(i) and (ii) of paragraph (a) of this subdivision and the exemption allowable in paragraph (b) of this subdivision is reduced to $6,000, $9,000 and $30,000, respectively,
or $4,000, $6,000 and $20,000, respectively.
[Amended 2-6-2008 by L.L. No. 5-2008]
D. 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. The owner or owners of the property shall be required to refile
each year. Applicants shall refile on or before the appropriate taxable
status date. Any applicant convicted of willfully making any false
statement in the application for such exemption shall be subject to
the penalties prescribed in the Penal Law.
[Added 5-19-1998 by L.L. No. 7-1998]
For the purposes of determining eligibility
for a partial veterans exemption from real property taxes under § 458
of the New York Real Property Tax Law and for the purposes of determining
eligibility for a veterans alternative exemption under § 458-a
of the New York Real Property Tax Law the following shall apply:
A. For the purposes of this section, title to that portion
of real property built as a cooperative apartment and owned by a cooperative
corporation in which a tenant-stockholder of such corporation resides
and which is represented by his share or shares of stock in such corporation
as determined by its or their proportional relationship to the total
outstanding stock of the corporation including that owned by the corporation
shall be deemed to be vested in such tenant-stockholder.
B. The proportion of the assessment of such real property
owned by such cooperative apartment corporation determined by the
relationship of such real property vested in such tenant-stockholder
to such entire parcel and the buildings thereon owned by such cooperative
apartment corporation in which such tenant-stockholder resides shall
be subject to exemption from taxation pursuant to this section and
any exemption as granted shall be credited by the appropriate taxing
authority against the assessed valuation of such real property; the
reduction in real property taxes realized thereby shall be credited
by the cooperative apartment against the amount of such taxes otherwise
payable by or chargeable to such tenant-stockholder.
C. Notwithstanding Subsection
B of this section, a tenant-stockholder who resides in a dwelling that is subject to the provisions of Articles 2, 4, 5 or 11 of the New York Private Housing Financing Law shall not be eligible for an exemption pursuant to this section.