[Adopted 12-16-2021 by L.L. No. 6-2021]
The purpose of this article is to implement legislation as allowed
by and pursuant to New York State Real Property Tax Law (RPTL) § 458-b,
Subdivision 2, to allow the Town of Webster to partially exempt from
taxation real property owned by a qualified owner of such property
as defined by RPTL § 458-b.
A.
The Town of Webster shall exempt from taxation qualifying
real property from taxation to the extent of 10% of the value of such
property, except that such exemption shall not exceed the product
of $8,000 multiplied by the latest state equalization rate for the
Town.
B.
In addition to the exemption provided by Subsection A, above, of this section, where the Cold War veteran has received a compensation rating from the United States Department of 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 the product of $40,000 multiplied by the latest state equalization rate for the Town.
C.
The exemption authorized by this section shall apply
to qualifying owners of qualifying real property for as long as they
remain qualifying owners, without regard to any time-limit extension.
This article shall apply to assessment rolls prepared on or
after the next taxable status date, which is March 1, 2022.
This article shall take effect immediately upon filing with
the New York State Secretary of State.
