[Adopted 9-29-2008 by L.L. No. 1-2008]
This is an article to enact a real property tax exemption for Cold War veterans to be known as "Real Property Tax Exemption For Cold War Veterans."
The purpose of this article is to provide qualifying Cold War veterans an exemption for qualifying residential real property from taxation to the extent of the reduced 10% of the assessed value of such property, which exemption shall not exceed $6,000, and in addition, to provide a disability exemption to the multiple of 50% of the disability rating not to exceed $30,000, all as set forth in Real Property Tax Law § 458-b.
A. 
As is authorized by Real Property Tax Law § 458-b, the Town of Bergen does hereby provide that qualifying residential real property 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 $6,000 or the product of $6,000 multiplied by the latest state equalization rate of the assessing unit, or, in the case of a special assessing unit, the latest class ratio, whichever is less.
B. 
In addition, as is authorized by Real Property Tax Law § 458-b, 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-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 Cold War veteran disability rating; provided, however, that such exemption shall not exceed $30,000, or the product of $30,000 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. 
Pursuant to Subsection 2(c)(iii) of § 458-b of the New York State Real Property Tax Law, the exemption authorized shall apply to qualifying owners of qualifying real property for as long as they remain qualifying owners, without regard to such ten-year limitation.
[Added 6-12-2018 by L.L. No. 1-2018]
This article shall take effect immediately upon passage subject to Real Property Tax Law § 458-b and filing with the Secretary of State.