The purpose of this Article is to repeal existing §§
104-2 and
104-3 which provide that no exemption from real property taxes shall be granted pursuant to § 458-a of the Real Property Tax Law of the State of New York and to substitute in its place new §§
104-2 and 1043 which do provide for exemptions from real property taxes pursuant to § 458-a of the Real Property Tax Law of the State of New York.
[Amended 12-21-2009 by L.L. No. 1-2009]
Pursuant to the provisions of Subdivision 2(d)
of § 458-a of the Real Property Tax Law of the State of
New York, the maximum veterans exemption from real property taxes
allowable pursuant to § 458-a of the Real Property Tax Law
is established as follows:
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 $15,000 or the product of $15,000 multiplied by the latest state
equalization rate for the Village of Nassau.
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 extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed the lesser of $25,000 or the product of $25,000 multiplied by the latest state equalization rate for the Village of Nassau.
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 $20,000 or the product of $20,000 multiplied by the latest state equalization rate for the Village of Nassau.