[Adopted 11-27-2007 by L.L. No. 6-2007[1]]
[1]
Editor’s Note: This local law provided that it would be effective 1-3-2008 and used in the preparation of assessment rolls on or after 3-1-2008.
Pursuant to the authority in § 458-b of the Real Property Law of the State of New York, the following exemption is adopted for qualifying veterans, subject to the requirements and limitations set forth in the Real Property Law.
The exemption shall be:
A. 
Ten percent of the assessed value, not to exceed $8,000 equalized by the latest state equalization rate.
B. 
The product of the assessed value multiplied by 50% of the service-connected-disability rating, not to exceed $40,000 equalized by the latest state equalization rate.
[Added 11-14-2017 by L.L. No. 2-2017]
This exemption shall apply indefinitely to all qualifying owners of qualifying real property for as long as they remain qualifying owners.