[Adopted 2-12-2008 by L.L. No. 2-2008]
The purpose of this article is to provide for
a Cold War veterans real property tax exemption in the Town of Greenwich
pursuant to § 458-b of the Real Property Tax Law of the
State of New York.
This article is enacted pursuant to the provisions
of § 458-b of the Real Property Tax Law of the State of
New York.
Pursuant to the provisions of § 458-b
of the Real Property Tax Law of the State of New York, the Cold War
veterans exemption from real property taxes in the Town of Greenwich
is established as follows:
A.
Qualifying residential real property 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 the lesser
of $8,000 or the product of $8,000 multiplied by the latest state
equalization rate for the Town of Greenwich.
B.
In addition to the exemption provided by Subsection A of this section, where the Cold War veteran received a compensation rating from the United States Veterans Affairs or from the United States Department of Defense because of a service-connected disability, qualifying residential real property also shall be exempt from taxation to the extent of the product of the assessed value of such property multiplied by 50% of the Cold War veteran disability rating; provided, however, that such exemption shall not exceed $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the Town of Greenwich.
C.
Pursuant to Subsection 2(c)(iii) of § 458-b of the New York
State Real Property Tax Law, the exemption authorized shall apply
to qualifying owners of qualifying real property for as long as they
remain qualifying owners, without regard to such ten-year limitation.
[Added 3-13-2018 by L.L. No. 1-2018]
