[Adopted 1-5-1985 by L.L. No. 1-1985
(Ch. 33 of the 1969 Code)]
[Amended 2-13-2018 by L.L. No. 2-2018]
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 the lesser of $12,000
or the product of $12,000 multiplied by the latest state equalization
rate for the Town.
B.
In addition to the exemption provided by Subsection A, where the veteran served in a combat theatre or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, qualifying residential real property also 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 the lesser of $8,000 or the product of $8,000 multiplied by the latest state equalization rate for the Town.
C.
In addition to the exemptions provided by Subsection A and B, where the veteran received a compensation rating from the United States Veterans Administration 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 veterans disability rating; provided, however, that such exemption shall not exceed the lesser of $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the Town.
