[Adopted 12-6-1989 by L.L. No. 9-1989]
Local Law No. 2-1985 is repealed.
[Added 1-4-2006 by L.L. No. 1-2006[1]]
The Town Board hereby exercises the power given to it by § 458-a(2)(d)(ii) of the NY Real Property Tax Law to set the maximum amounts of the assessed value of qualifying residential real property as defined in section § 458-a(1)(d) of the NY Real Property Tax Law that will be exempt from taxation pursuant to § 458-a of the NY Real Property Tax Law. In § 195-28, NY "Real Property Tax Law" is abbreviated to read "RPTL."
[1]
Editor's Note: This local law also repealed
former § 195-27, Implementation, as amended.
[Added 1-4-2006 by L.L. No. 1-2006[1]]
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 $75,000 or
the product of $75,000 multiplied by the latest state equalization
rate for the Town.
[Amended 1-19-2022 by L.L. No. 2-2022]
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, or the armed forces expeditionary medal, naval 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 $50,000 or the product of $50,000 multiplied by the latest state equalization rate for the Town, whichever is less.
[Amended 1-19-2022 by L.L. No. 2-2022]
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 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 $250,000 or the product of $250,000 multiplied by the latest state equalization rate for the Town, whichever is less. For the purpose of this subsection, where a person who has 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%.
[Amended 1-19-2022 by L.L. No. 2-2022]
D.
For the purpose of this article, a Gold Star Parent
as defined in RPTL § 458-a, Subdivision 7(a), is included
within the definition of “qualified owner” contained in
section RPTL § 458-a, Subdivision 1(c), and real property
owned by a Gold Star Parent is included within the definition of "qualifying
residential real property" contained in RPTL § 458-a, Subdivision
1(d), provided that such property is the primary residence of the
Gold Star Parent.
[1]
Editor's Note: This local law also repealed
former § 195-28, Cooperative apartments, added 5-20-1998
by L.L. No. 7-1998.
