[Adopted 8-26-2008 by L.L. No. 7-2008]
The purpose for this article is to provide for
exemption allowable to Cold War veterans pursuant to § 458-b
of the Real Property Tax Law of the State of New York. The definitions
of terms in this article are those set forth in § 458-b
of the Real Property Tax Law of the State of New York, which are expressly
incorporated herein.
The authority for this article is contained
in § 10, Subdivision 1(i), of the Municipal Home Rule Law
of the State of New York and § 458-b of the Real Property
Tax Law of the State of New York.
Pursuant to the provision of § 458-b
of the Real Property Tax Law of the State of New York, the exemption
provided in this local law is available to residential real property
owned by a Cold War veteran, being any person who served active duty
for a period of more than 365 days in the United States Armed Forces,
during the time period from September 2, 1945, to December 26, 1991,
and was discharged or released therefrom under honorable conditions,
and who applies for said exemption in accordance with the requirements
of § 458-b of the Real Property Tax Law of the State of
New York.
Pursuant to the provisions of § 458-b
of the Real Property Tax Law of the State of New York, the exemption
from real property taxes allowable to Cold War veterans is established
as follows:
A.
Qualified residential real property as defined in
§ 458-b of the Real Property Tax Law 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 Moreau, whichever is less.
B.
In addition to the exemption provided by Paragraph
A of this subdivision, where the Cold War veteran receives 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 also 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
Town of Moreau, whichever is less.
C.
The exemption provided by Paragraph A of this subdivision shall apply
to qualifying owners of qualifying real property for as long as they
remain qualifying owners, without regard to the ten-year limitation
set forth in New York State Real Property Tax Law § 458-b.
[Added 11-28-2017 by L.L.
No. 1-2017]
If a Cold War veteran has a real property tax
exemption under § 458 or 458-a of the Real Property Tax
Law, such veteran shall not be eligible to receive this exemption.
This article shall become effective immediately
upon being filed in the Office of the Secretary of State.
This article shall remain in effect until rescinded
or superseded by a subsequent local law.
