[Adopted 12-18-1995 as L.L. No. 5-1995]
It is the purpose of this Article to grant a limited exemption from real property taxation for qualified residential property owned by qualified veterans of defined periods of war, veterans who received particularly expeditionary medals or certain family members based upon a percentage of assessed value pursuant to § 458-a of the Real Property Tax Law.
[Amended 2-17-2009 by L.L. No. 2-2009; 12-20-2022 by L.L. No. 13-2022]
The Village of Penn Yan, pursuant to the authority granted by § 458-a(2)(d)(ii) of the Real Property Tax Law, increases the maximum allowable exemption granted under Paragraphs (a),(b) and (c) of Subdivision (2) of § 458-a of the Real Property Tax Law to $24,000, $16,000, and $80,000, respectively. This increase shall be effective with the 2023 assessment roll and shall be applicable to any application therefore whether such application is made prior to or subsequent to the effective date hereof, provided such application is duly made by the filing deadline with respect thereto.