[Adopted 1-19-2010 by L.L. No. 1-2010]
A.
Veterans owning real property in the Incorporated Village of Farmingdale
are entitled to a veteran's exemption as authorized by § 458
of the Real Property Tax Law of the State of New York. Section 458-1
grants a real property tax exemption to veterans who purchased real
property with eligible funds granted by the United States or by the
State of New York for military or naval services, where such property
is owned by the person who rendered such services, or by the spouse
or unremarried surviving spouse, or dependent father or mother, or
the children under 21 years of age of such person. Section 458-2 grants
a real property tax exemption to an honorably discharged veteran of
World War I, World War II, or of the hostilities which commenced June
27, 1950, who sustained permanent disability while on military duty,
either total or partial, for real property purchased with moneys collected
by popular subscription and owned by the person who sustained such
injuries, or by his or her spouse or unremarried surviving spouse,
or dependent father or mother. Section 458-3 grants a real property
tax exemption for the primary residence of any seriously disabled
veteran, or the unremarried surviving spouse of such veteran, who
is eligible for, or who has received, pecuniary assistance from the
United States government.
B.
The Village of Farmingdale is currently conducting a revaluation
of all real property located within the Village. The revaluation shall
apply to tax assessment rolls prepared on the basis of taxable status
dates occurring on or after January 1, 2010. Section 458-5 of the
Real Property Tax Law of the State of New York provides that if the
total assessed value of the real property for which a veterans' property
tax exemption has been granted increases or decreases as the result
of a revaluation or update of assessments, and a material change in
level of assessment is certified for the assessment roll pursuant
to the Rules of the State Board of Real Property Services, the Village
may adopt a local law authorizing and directing the Village Assessor
to increase or decrease the amount of such exemption by multiplying
the amount of such exemption by the change in level of assessment
factor.
C.
The purpose of this legislation is to incorporate the provisions
and authorizations contained in § 458-5 into the Code of
the Village of Farmingdale.
Pursuant to the provisions of § 458-5 of the Real
Property Tax Law of the State of New York with regard to the veterans'
real property tax exemption, if the total assessed value of the real
property for which such exemption has been granted increases or decreases
as the result of a revaluation or update of assessments, and a material
change in level of assessment is certified for the assessment roll
pursuant to the Rules of the State Board of Real Property Services,
the Village Assessor shall increase or decrease the amount of such
exemption by multiplying the amount of such exemption by the change
in level of assessment factor. If the Village Assessor receives the
certification after the completion, verification and filing of the
final assessment roll, the Assessor shall certify the amount of exemption
as recomputed pursuant to this section to the local officers having
custody and control of the roll, and such local officers are hereby
directed and authorized to enter the recomputed exemption certified
by the Assessor on the roll.
This article shall take effect in accordance with § 27
of the Municipal Home Rule Law and shall apply to tax assessment rolls
prepared on the basis of taxable status dates occurring on or after
January 1, 2010.
