[Adopted 2-9-2009 by L.L. No. 1-2009]
It is the intent of the Town of Bath to adopt an article to
provide a qualified owner of qualifying residential real property
an exemption from taxation to the extent of 15% 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 $20,000, all as set forth
in § 458-b of the Real Property Tax Law.
A.
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 the ten-year limitation contained therein.
[Added 12-11-2017 by L.L.
No. 3-2017]
A.
As is authorized by § 458-b of the Real Property Tax Law,
the Town of Bath does hereby provide that qualifying residential real
property shall be exempt from taxation to the extent of 15% of the
assessed value of such property; provided, however, that such exemption
shall not exceed $6,000 or the product of $6,000 multiplied by the
latest state equalization rate of the assessing unit, or, in the case
of a special assessing unit, the latest class ratio, whichever is
less.
B.
As is authorized by § 458-b of the Real Property Tax Law, in addition to the exemption provided by Subsection A of this subsection, 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, qualifying residential real property 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 $20,000 or the product of $20,000 multiplied by the latest state equalization rate for the assessing unit, or, in the case of a special assessing unit, the latest class ratio, whichever is less.
