[Adopted 11-2-2000 by L.L. No. 7-2000]
[Amended 3-27-2008 by L.L. No. 1-2008]
A.
The purpose of this Subsection A is to further enhance the maximum real property tax exemption available under § 458-a of the New York Real Property Tax Law to wartime, disabled and combat veterans and their families.
(1)
The maximum exemption allowable to qualifying residential
real property exempt from taxation, under § 458-a of the
New York Real Property Tax Law to the extent of 15% of the assessed
value, shall be increased from $12,000 to $18,000.
(2)
The maximum exemption allowable to veterans who served
in a combat theater or combat zone of operations, as documented by
the award of the United States Campaign Ribbon or Service Medal, under
§ 458-a of the New York Real Property Tax Law, is hereby
increased from $8,000 to $12,000.
(3)
The maximum exemption allowable, as an additional
exemption available to a veteran who has received a compensation rating
from a New York veterans organization or the United States Department
of Defense because of a service-connected disability, calculated as
the product of the assessed value multiplied by 50% of the veteran's
disability rating under § 458-a of the New York Real Property
Tax Law, is hereby increased from $40,000 to $60,000.
B.
Exemption for Cold War veterans.
(1)
The purpose of this Subsection B is to extend to Cold War veterans of the Town of Warwick such provisions of New York State Real Property Tax Law § 458-b, as the Town Board may from time to time determine to enact.
(2)
The Town of Warwick hereby enacts the provisions of
§ 458-b of the New York State Real Property Tax Law to provide
for a tax exemption of 15% of the assessed value of the real property
constituting the applicant's (Cold War veteran's) primary residence.
For Town of Warwick purposes, exclusive of special assessments, the
exemption shall not exceed $12,000 multiplied by the latest equalization
rate available for the assessing unit in which such real property
is located. Those veterans who qualify under the provision of RPTL
§ 458-b shall be eligible to apply for this exemption.
(3)
Exemption period. As authorized by Chapter 290 of the Laws of 2017 of the State of New York, which amended Subparagraph (iii) of paragraph (c) of subdivision 2 of § 458-b of the Real Property Tax Law, the exemption previously authorized by the Town Board under Local Law Number 1 of 2008 and Town Code Chapter 144, Article IV, shall apply to qualifying owners of qualifying real property for as long as such person(s) remain qualifying owners, without regard to the previously existing ten-year limitation set forth in Real Property Tax Law § 458-b.
[Added 2-22-2018 by L.L.
No. 1-2018]
