[Adopted by L.L. No. 1-1985; amended in its entirety 2-14-2005 by L.L. No.
1-2005 (Ch. 100 of the 1977 Code)]
The purpose of this article is to increase the
maximum veterans' alternative exemption available under § 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 $27,000 or the product of $27,000 multiplied by the latest state
equalization rate for the Town of Canandaigua.
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 extend of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed the less of $18,000 or the product of $18,000 multiplied by the latest state equalization rate for the Town of Canandaigua.
C.
In addition to the exemption provided by Subsections A and B of this section, when 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 Canandaigua.
