[Adopted 2-26-2008 by L.L. No. 3-2008]
The purpose of this article is to grant Cold
War veterans who meet the requirements set forth in § 458-b
of the New York State Real Property Tax Law with a real property tax
exemption.
As used in this article, the following terms
shall have the meaning indicated:
Full-time duty in the United States Armed Forces, other than
active duty for training.
The United States Army, Navy, Marine Corps, Air Force, and
Coast Guard.
A person, male or female, who served on active duty in the
United States Armed Forces, during the time period from September
2, 1945 to December 26, 1991, was discharged or released therefrom
under honorable conditions and satisfies any other requirements set
forth in § 458-b(1)(a) of the New York State Real Property
Tax Law.
The latest final class ratio established by the New York
State Board of Real Property Tax Services pursuant to Title 1 of Article
12 of Chapter 50-a of the New York State Real Property Tax Law for
use in a special assessing unit as defined in § 1801 of
Chapter 50-a of the New York State Real Property Tax Law.
The latest final state equalization rate or special equalization
rate established by the New York State Board of Real Property Tax
Services pursuant to Article 12 of Chapter 50-a of the New York State
Real Property Tax Law. The New York State Board of Real Property Tax
Services shall establish a special equalization rate if it finds that
there has been a material change in the level of assessment since
the establishment of the latest state equalization rate, but in no
event shall such special equalization rate exceed 100. In the event
that the state equalization rate exceeds 100, then the state equalization
rate shall be 100 for the purposes of this article. Where a special
equalization rate is established for purposes of this article, the
Assessor is directed and authorized to recompute the Cold War veterans
exemption on the assessment roll by applying such special equalization
rate instead of the latest state equalization rate applied in the
previous year and to make the appropriate corrections on the assessment
roll, notwithstanding the fact that such Assessor may receive the
special equalization rate after the completion, verification and filing
of such final assessment roll. In the event that the Assessor does
not have custody of the roll when such recomputation is accomplished,
the Assessor shall certify such recomputation to the local officers
having custody and control of such roll, and such local officers are
hereby directed and authorized to enter the recomputed Cold War veterans
exemption certified by the Assessor on such roll.
[Amended 2-23-2010 by L.L. No. 1-2010; 2-13-2018 by L.L. No.
2-2018]
A Cold War veteran, the spouse of a Cold War veteran, or
the unremarried surviving spouse of a deceased Cold War veteran. Where
property is owned by more than one qualified owner, the exemption
to which each is entitled may be combined. Where a veteran is also
the unremarried surviving spouse of a veteran, such person may also
receive any exemption to which the deceased spouse was entitled.
Property owned by a qualified owner which is used exclusively
for residential purposes; provided, however, that in the event that
any portion of such property is not used exclusively for residential
purposes, but is used for other purposes, such portion shall be subject
to taxation and only the remaining portion used exclusively for residential
purposes shall be subject to the exemption provided by this article.
Such property shall be the primary residence of the Cold War veteran
or the unremarried surviving spouse of a Cold War veteran; unless
the Cold War veteran or unremarried surviving spouse is absent from
the property due to medical reasons or institutionalization subject
to such time limitations, if any, as are set forth in § 458-b(1)(f)
of the New York State Real Property Tax Law.
[Amended 2-13-2018 by L.L. No. 2-2018]
With respect to disability or death, that such disability
was incurred or aggravated, or that the death resulted from a disability
incurred or aggravated, in line of duty on active military, naval
or air service.
[Amended 2-23-2010 by L.L. No. 1-2010; 2-13-2018 by L.L. No.
2-2018; 3-8-2022 by L.L. No. 4-2022]
A.
Qualifying residential real property of a Cold War
veteran, as defined in New York State Real Property Tax Law § 458-b,
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 assessing unit or, in the case of
a special assessing unit, the latest class ratio, whichever is less.
B.
In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United States Veterans Affairs or from the United States Department of Defense because of a service-related disability, qualifying residential real property, as defined in New York State Real Property Tax Law § 458-b, shall be exempt from taxation to the extent of the product of the assessed value of such property, multiplied by 50% of the Cold War veteran 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 assessing unit or, in the case of a special assessing unit, the latest class ratio, whichever is less.
C.
If a Cold War veteran receives either a veterans' exemption under Article III of this chapter, authorized by § 458 of the New York State Real Property Tax Law, or an alternative veterans' exemption authorized by § 458-a of the Real Property Tax Law, the Cold War veteran shall not be eligible to receive an exemption under this article.
[Added 2-23-2010 by L.L. No. 1-2010[1]]
The provisions in this article shall apply to any real property
held in trust solely for the benefit of a person or persons who would
otherwise be eligible for a real property tax exemption, pursuant
to this article, were such person or persons the owner or owners of
such real property.
[Added 2-23-2010 by L.L. No. 1-2010]
A.
For the purposes of this article, title to the portion of real property
owned by a cooperative apartment corporation in which a tenant-stockholder
of such corporation resides and which is represented by his or her
share or shares of stock in such corporation as determined by its
or their proportional relationship to the total outstanding stock
of the corporation, including that owned by the corporation, shall
be deemed to be vested in such tenant-stockholder.
B.
Provided that all other eligibility criteria of this article are
met, that proportion of the assessment of such real property owned
by a cooperative apartment corporation determined by the relationship
of such real property vested in such tenant-stockholder to such real
property owned by such cooperative apartment corporation in which
such tenant-stockholder resides shall be subject to exemption from
taxation pursuant to this article, and any exemption so granted shall
be credited by the appropriate taxing authority against the assessed
valuation of such real property; the reduction in real property taxes
realized thereby shall be credited by the cooperative apartment corporation
against the amount of such taxes otherwise payable by or chargeable
to such tenant-stockholder.
[Amended 2-13-2018 by L.L. No. 2-2018]
Application for the exemption set forth in this
article shall be made by the qualified owner, or all of the qualified
owners, of the property on a form prescribed by the New York State
Board of Real Property Tax Services. The owner or owners shall file
the completed form in the local assessor's office on or before the
first appropriate taxable status date. The owner or owners of the
property shall be required to refile at such times and under such
circumstances as may be set forth in § 458-b(4) of the New
York State Real Property Tax Law. Any applicant convicted of willfully
making any false statement in the application for such exemption shall
be subject to the penalties prescribed in the New York State Penal
Law.
