The Real Property Tax Law provides veterans
owning qualifying real property with a tax exemption. The scope of
"qualifying residential real property" did not include cooperative
apartments owned by veterans. Section 458 of the Real Property Tax
Law has been amended to permit towns, by adoption of a local law,
to include cooperative housing within the meaning of "qualifying residential
real property."
Pursuant to § 458 of the Real Property
Tax Law, the percentage of cooperative shares owned by veterans in
a cooperative apartment corporation shall be eligible to be included
in "qualifying residential real property" for the purposes of determining
eligibility for a veterans real property tax exemption.