Town of Cazenovia, NY Alternative Veterans Exemption

[1]

Editor's Note: This local law also repealed former Art. I, Alternative Veterans Exemption, adopted 8-11-2003 by L.L. No. 1-2003.

The Town of Cazenovia does hereby adopt the alternative veterans exemption from real property taxation, as authorized by Real Property Tax Law § 458-a.

Pursuant to Real Property Tax Law § 458-a, Subdivision 2(a) through (c), the maximum exemption from real property taxes for veterans allowable is established as follows:

(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 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 in Subsection B(1), 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 $8,000 or the product of $8,000 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 Subsection B(1) and (2), where the veteran received a compensation rating from the United States Veterans 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 $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. For purposes of this paragraph, 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%.

The right to said exemption set forth in this article, the procedures for application therefor and the restrictions and limitations thereon shall be as set forth in this article in accordance with the terms, procedures, restrictions and limitations set forth in the Real Property Tax Law § 458-a. The exemption, the procedures for application therefor and the restrictions and limitations thereon as set forth in Real Property Tax Law § 458-a, as amended, and as from time to time shall be amended, are hereby incorporated by reference into this article. If any provisions of this article are in conflict with those set forth in Real Property Tax Law § 458-a, Real Property Tax Law § 458-a shall be controlling.