The New York State Legislature has adopted,
and the Governor has signed into law, an amendment to § 458-a
of the New York State Real Property Tax Law in relation to the alternative
veterans exemption and to repeal certain provisions of the Real Property
Tax Law relating thereto.
Pursuant to that bill, Subparagraph (ii) of
Paragraph (d) of Subdivision 2 of § 458-a of the New York
State Real Property Tax Law has been amended, effective January 1,
1998, to allow a Town to adopt a local law to increase the maximum
exemption allowable in Paragraphs (a), (b) and (c) of said subdivision.
[Amended 3-12-2007 by L.L. No. 4-2007]
The maximum exemptions allowable under said
Paragraphs (a), (b) and (c) shall be $36,000, $24,000 and $120,000,
respectively. The maximum exemption allowed under this section shall
apply to the March 1, 2007 taxable status date and all taxable status
dates thereafter.
This article shall apply to assessment rolls
prepared on the basis of a taxable status date occurring on or after
January 1, 1998.