[Adopted 4-11-1985 by L.L. No. 3-1985]
Pursuant to the provisions of § 458
of the New York State Real Property Tax Law as heretofore adopted
and amended by the Legislature of the State of New York, the purpose
of this article is to preserve the ratio which each veterans exemption
from taxation on real property bears to the total assessed value of
the real property for which such exemption has been granted whenever
such total assessed value increases or decreases due only to a change
in the manner of assessing.
The meanings of words and expressions as used
in this article shall be identical to their meanings as used in §§ 307
and 458, as amended, of the Real Property Tax Law of the State of
New York.
If the ratio between the exemption granted under
§ 458, Subdivision 1, of the Real Property Tax Law of the
State of New York and the total assessed value of the real property
for which such exemption has been granted increases or decreases due
only to a change in the manner of assessing in the town, the amount
of the exemption heretofore or hereafter granted shall be increased
or decreased in such subsequent year in the same proportion as the
total assessed value has been increased or decreased. Such adjustment
shall be made by the Assessor in the manner provided in Paragraph
3 of Subdivision 1 of § 458 of the Real Property Tax Law
of the State of New York, and no application therefor need be filed
by or on behalf of any owner of any eligible property.
Insofar as the provisions of this article are
inconsistent with the provisions of any other local law or act, the
provisions of this article shall be controlling.
This article shall be entitled "A Local Law
of the Town of Schodack, Rensselaer County, New York, to Provide for
the Preservation of Veterans Exemptions in Connection with Taxation
on Real Property in Respect to the Ratios Thereof in the Event of
Change in the Manner of Assessing" and may be cited accordingly. This
article may also be cited as a local law of the Town of Schodack,
Rensselaer County, New York, by year and number of adoption by the
Town Board of the Town of Schodack, Rensselaer County, New York.
[Added 4-10-1997 by L.L. No. 3-1997;
amended 3-12-1998 by L.L. No. 2-1998; 3-22-2007 by L.L. No. 2-2007; 2-28-2019 by L.L. No. 1-2019]
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 $45,000 or
the product of $45,000 multiplied by the latest state equalization
rate for the respective assessing unit, or in the case of a special
assessing unit, the latest class ratio, whichever is less.
B.
In addition to the exemption provided in Subsection A of this section, where the veteran served in a combat theater 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 extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed $30,000 or the product of $30,000 multiplied by the latest state equalization rate for the respective assessing unit, or in the case of a special assessing unit, the latest class ratio, whichever is less.
C.
In addition to the exemptions provided by Subsections A and B of this section, where the veteran received a compensation rating from the United States Veterans Administration 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 veterans disability rating; provided, however, that such exemption shall not exceed $150,000 or the product of $150,000 multiplied by the latest state equalization rate for the respective assessing unit, or in the case of a special assessing unit, the latest class ratio, whichever is less. For the purpose of this section, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.
[Added 11-13-2008 by L.L.
No. 2-2008; amended 1-11-2018 by L.L. No. 1-2018]
Qualifying residential real property owned by a Cold War veteran
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 $8,000 multiplied by the latest state equalization rate
of the Town, or in the case of a special assessing unit the latest
class ratio, whichever is less. If a Cold War Veteran receives an
exemption under § 458 or 458(a) of the Real Property Tax
Law, the Cold War veteran shall not be entitled to receive the exemption
under this title. Eligibility for such exemption shall be pursuant
to the standards and definitions set forth in § 458-b of
the Real Property Tax Law. The exemption authorized by this article
shall apply to qualifying owners of qualifying real property for as
long as they remain qualifying owners, without regard to any ten-year
limitation, pursuant to the authority provided in Chapter 290 of the
Laws of 2017.
[Added 10-10-2013 by L.L. No. 1-2013]
Pursuant to § 458-a(7)(b), the Town of Schodack hereby
includes a Gold Star Parent within the definition of "qualified owner"
as provided in paragraph (a) of subdivision 1 of § 458-a
of the Real Property Tax Law, and to include property owned by a Gold
Star Parent within the definition of "qualifying residential real
property," as provided in paragraph (d) of subdivision 1 of said section,
provided that such property shall be the primary residence of a Gold
Star Parent.
