[Adopted 12-4-1991 by L.L. No. 2-1991]
The purpose of this law is to reduce the maximum veterans exemption allowable pursuant to § 458-a of the Real Property Tax Law of the State of New York.
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 $6,000 or the product of $6,000 multiplied by the latest state equalization of the Town of Cortlandville.
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 $4,000 or the product of $4,000 multiplied by the latest state equalization rate of the Town of Cortlandville.
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 Veteran's Administration 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 the lesser of $20,000 or the product of $20,000 multiplied by the latest state equalization rate of the Town of Cortlandville.
Local Law Number 2 for the Year 1984 for the Town of Cortlandville, wherein the Town elected not to have the exemption of said § 458-a, is hereby repealed.