[Adopted 10-7-2008 by L.L. No. 7-2008]
A.
Section 458-b of the Real Property Tax Law authorizes a limited exemption
from real property taxes for residential real property owned by veterans
who rendered military service to the United States during the Cold
War.
B.
Section 458-b of the Real Property Tax Law authorizes municipalities
to establish maximum exemption amounts.
C.
In regard to Cold War veterans who own residential real property
within Ulster County, it is the desire of the Ulster County Legislature
to authorize the Cold War veterans exemption and establish maximum
amounts.
[Amended 12-19-2017 by L.L. No. 5-2017]
In accordance with the provisions of § 458-b of the
Real Property Tax Law of the State of New York, residential real property
owned by veterans who rendered military service to the United States
during the Cold War shall be exempt from County taxation. Pursuant
to Chapter 290 of the New York State Laws of 2017, it is intended
that this exemption shall remain in effect indefinitely or until such
time as it is revoked by local law or authorizing state legislation
requires modification.
The maximum exemptions allowable from County real property taxation
pursuant to § 458-b of the Real Property Tax Law shall be
15% of the property's assessment, not to exceed $45,000 multiplied
by the latest final state equalization rate for service during the
Cold War and a percentage of the property's assessment equal to 1/2
of any service-connected disability rating, not to exceed $150,000
multiplied by the latest final state equalization rate.
[1]
Editor's Note: This local law provided that it would be effective
immediately and apply to taxable status dates occurring on or after
1-1-2017.
