[1]
Editor's Note: This local law also provided
that the exemption shall apply to assessed valuations for the March
1, 2018 taxable status date and thereafter. The local law shall not
apply retroactively.
The Town of Newburgh 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 and such exemption is hereby made permanent so long
as the qualified owner remains a qualified owner rather than subject
to a ten-year limit. Such exemption shall be the maximum 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,
except where the Cold War 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.
