[Adopted 12-17-1984 by L.L. No. 5-1984; amended in its entirety 3-11-1991 by L.L. No. 1-1991]
[Amended 9-26-2005 by L.L. No. 4-2005]
The purpose of this article is to increase the
maximum veterans exemption allowable pursuant to § 458-a
of the Real Property Tax Law of the State of New York.
[Amended 4-28-1997 by L.L. No. 1-1997; 9-26-2005 by L.L. No. 4-2005]
A.
Qualifying residential 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 $27,000, or the product of $27,000 multiplied by the latest state
equalization rate for the Town of Marlborough.
B.
In addition to the exemption provided for in Subsection A, where the veteran served in a combat theater or a 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 $18,000 or the product of $18,000 multiplied by the latest state equalization rate for the Town of Marlborough.
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 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 $90,000 or the product of $90,000 multiplied by the latest state equalization rate for the Town of Marlborough.
[Amended 9-26-2005 by L.L. No. 4-2005]
This article shall take effect immediately upon
filing with the Secretary of State.
