[Adopted 8-14-2008 by L.L. No. 3-2008]
[Amended 1-18-2018 by L.L. No. 1-2018]
In accordance with Real Property Tax Law § 458-b, qualifying residential real property owned by a Cold War veteran or other qualified owner, as defined therein, shall be exempt from real property taxation by the Town of Crawford to the extent established from time to time by the Town Board, upon compliance with the provisions set forth in the Real Property Tax Law. The partial real property tax exemption granted by this chapter shall apply to qualifying owners of qualifying real property for as long as they remain qualifying owners, without regard to the previously existing ten-year limitation.
Qualifying residential real property shall be exempt from taxation to the extent of 15% of the assessed value of the qualifying real property, provided that such exemption shall not exceed $12,000 or the product of $12,000 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.
In addition to the exemption provided in § 125-29 of this article, 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 connection 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 $40,000, or the product of $40,000 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.
A. 
The exemption provided by this article shall be applicable to county and Town taxation, but shall not be applicable to taxes levied for school purposes.
B. 
If a Cold War veteran receives the veterans real property taxation exemption under Real Property Tax Law § 458 or 458-a, the Cold War veteran shall not be eligible to receive the exemption under this article.