This is an article to enact a real property
tax exemption for Cold War veterans to be known as "Real Property
Tax Exemption For Cold War Veterans."
The purpose of this article is to provide qualifying
Cold War veterans an exemption for qualifying residential real property
from taxation to the extent of the reduced 10% of the assessed value
of such property, which exemption shall not exceed $6,000, and in
addition, to provide a disability exemption to the multiple of 50%
of the disability rating not to exceed $30,000, all as set forth in
Real Property Tax Law § 458-b.
This article shall take effect immediately upon
passage subject to Real Property Tax Law § 458-b and filing
with the Secretary of State.