[Adopted 8-14-2008 by L.L. No. 4-2008]
The purpose of this article is to provide a veterans exemption
of real property taxation allowable pursuant to § 458-b
of the Real Property Tax Law of the State of New York and shall be
known as "Cold War Veterans Exemption Local Law."
In accordance with Real Property Tax Law § 458-b:
A.
Qualifying residential real 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 $12,000 or the product
of $12,000 multiplied by the latest state equalization rate for the
Town of Concord, New York.
B.
In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United States Department of Veterans Affairs or from the United States Department of Defense because of service-connected disability, qualifying residential property shall be exempt from taxation to the extent of the product of the assessed valuation of 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 equalization rate for the Town of Concord, New York.
