[Adopted 3-5-2008 by L.L. No. 1-2008]
The purpose of this article is to provide a
limited exemption from real property taxes for residential real property
owned by veterans who rendered military service to the United States
during the Cold War as provided by § 458-b of the Real Property
Tax Law of the State of New York.
[Amended 3-10-2010 by L.L. No. 1-2010; 11-21-2017 by L.L. No. 7-2017]
A.
Qualifying residential real property owned by veterans who rendered
military service to the United States during the Cold War shall be
exempt from taxation for Town purposes to the extent of 15% of the
assessed value of such property; provided, however, that such exemption
shall in no event exceed $12,000 or the product of $12,000 multiplied
by the Town of Carmel's latest state equalization rate, whichever
is less.
B.
The exemption authorized herein and pursuant to New York Real Property
Tax Law shall apply to qualifying owners of qualifying real property
for as long as they remain qualifying owners, without regard to the
ten-year limitation period for said exemption set forth in New York
Real Property Tax Law § 458-b, Subdivision 2(c)(iii).
In addition to the exemption provided by § 137-19, where a 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 for Town purposes 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 Town of Carmel's latest state equalization rate, whichever is less.
If a Cold War veteran receives the exemption
under § 458 or § 458-a of the Real Property Tax
Law of the State of New York, the Cold War veteran shall not be eligible
to receive the exemption under this article.
All definitions contained in § 458-b
of the Real Property Tax Law of the State of New York shall apply
to this article. All applications for exemptions under this article
shall be filed with the Town Assessor in accordance with the provisions
of § 458-b of the Real Property Tax Law of the State of
New York.
