[Adopted 12-3-1984 by L.L. No. 2-1984 (Ch. 76, Art. II, of the 1979 Code)]
[Amended 2-26-1991 by L.L. No. 2-1991; 2-27-2001 by L.L. No. 3-2001]
The purpose of this article is to provide for the maximum exemption allowable pursuant to § 458-a of the Real Property Tax Law of the State of New York.
[Amended 2-26-1991 by L.L. No. 2-1991; 2-4-1997 by L.L. No. 1-1997; 2-27-2001 by L.L. No. 3-2001; 2-5-2007 by L.L. No. 2-2007]
A. 
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 the lesser of $54,000 or the product of $54,000 multiplied by the latest state equalization rate for the Town of Hamptonburgh.
B. 
In addition to the exemption provided by Subsection A of this section, where the veteran served in a combat theater or combat zone of operations, as documented by the award of a United States campaign ribbon or service 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 the lesser of $36,000 or the product of $36,000 multiplied by the latest state equalization rate for the Town of Hamptonburgh.
C. 
In addition to the exemptions provided by Subsections A and B of this section, where the veteran received a compensation rating from the United States Veterans' Administration because of a service-connected disability, qualifying residential real property shall be exempt from taxation to the extent of the percentage of assessed value equal to 1/2 of the service-connected disability rating; provided, however, that such exemption shall not exceed the lesser of $180,000 or the product of $180,000 multiplied by the latest state equalization rate for the Town of Hamptonburgh.
D. 
Gold Star parents shall be eligible to receive the basic exemption and the combat zone exemption as provided for herein.
The maximum veterans exemptions herein established may be hereinafter amended by local law duly adopted by the Town Board.