[Adopted 2-15-1997 by L.L. No. 1-1997]
[Amended 7-13-2010 by L.L. No. 1-2010]
The purpose of this article is to establish
the maximum veterans exemption allowable pursuant to § 458-a
of the Real Property Tax Law of the State of New York.
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 $15,000 or the product of $15,000 multiplied by the latest state
equalization rate for the Town of Bergen.
B.
In addition to the exemption provided for by Subsection A, 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 property shall also 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 $10,000 or the product of $10,000 multiplied by the latest state equalization rate for the Town of Bergen.
C.
In addition to the exemptions provided by Subsections A and B, where the veteran received a compensation rating from the United States Veterans Administration or 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 veteran's 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 of Bergen.
