[Adopted 1-8-1985 by L.L. No. 1-1985; amended in its entirety 3-14-2011 by L.L. No.
1-2011]
The purpose of this article is to provide that exemptions to
real property taxes shall be granted in the Town of Highlands in accordance
with §§ 458-a and 458-b of the Real Property Tax Law
of the State of New York.
A.
Section 458-a veterans alternative exemption.
(1)
The Town of Highlands hereby authorizes the exemption for veterans
to qualified owners of qualified residential properties pursuant to
§ 458-a of the Real Property Tax Law of the State of New
York. Such exemption shall be allowed pursuant to § 458-a,
to wit: 15% of the assessed value of such qualifying property, not
to exceed $15,000 or the product of $15,000 multiplied by the latest
state equalization rate of the Town, whichever is less.
(2)
In addition to the exemption provided in Subsection A(1) above, where the veteran served in a combat theatre or combat zone of operations, the Town of Highlands hereby authorizes an additional exemption pursuant to § 458-a of the Real Property Tax Law of the State of New York. Such exemption shall be allowed pursuant to § 458-a, to wit: 10% of the assessed value of such qualifying property, not to exceed $20,000 or the product of $20,000 multiplied by the latest state equalization rate of the Town, whichever is less.
(3)
In addition to the exemptions provided in Subsection A(1) and (2) above, where the veteran received a compensation rating from the United States Department of Veterans Affairs or from the United States Department of Defense because of a service-connected disability, such property shall be exempt to the extent of the product of its assessed value multiplied by 50% of the veteran's disability rating, not to exceed $40,000 or the product of $40,000 multiplied by the latest equalization rate for the Town, whichever is less.
B.
Section 458-b exemption for Cold War veterans.
(1)
The Town of Highlands hereby authorizes the exemption for Cold War
veterans to qualified owners of qualified residential properties pursuant
to § 458-b of the Real Property Tax Law of the State of
New York. Such exemption shall be allowed pursuant to § 458-b,
to wit: 15% of the assessed value of such qualifying property, not
to exceed $12,000 or the product of $12,000 multiplied by the latest
state equalization rate of the Town, whichever is less.
(2)
In addition to the exemption provided in Subsection B(1) above, where the veteran received a compensation rating from the United States Department of Veterans Affairs or from the United States Department of Defense because of a service-connected disability, such property shall be exempt to the extent of the product of its assessed value multiplied by 50% of the veteran's disability rating, not to exceed $40,000 or the product of $40,000 multiplied by the latest equalization rate for the Town, whichever is less.
(3)
If a Cold War veteran receives an exemption under § 458-a
of the Real Property Tax Law, the Cold War veteran shall not be eligible
to receive an exemption under § 458-b.
