[Adopted 7-23-2008 by L.L. No. 2-2008]
As used in this article, the following terms and phrases shall
have the following meanings:
A person, male or female, who served on active duty in the
United States armed forces during the time period from September 2,
1945, to December 26, 1991, and was discharged or released therefrom
under honorable conditions.
The United States Army, Navy, Marine Corps, Air Force and
Coast Guard.
Full-time duty in the United States armed forces, other than
active duty for training.
With respect to disability or death, that such disability
was incurred or aggravated, or that the death resulted from a disability
incurred or aggravated, in the line of duty on active military, naval
or air service.
A Cold War veteran, the spouse of a Cold War veteran, or
the unremarried surviving spouse of a deceased Cold War veteran. Where
property is owned by more than one qualified owner, the exemption
to which each is entitled may be combined. Where a veteran is also
the unremarried surviving spouse of a veteran, such person my also
receive any exemption to which the deceased spouse was entitled.
Property owned by a qualified owner which is used exclusively
for residential purposes; provided, however, that in the event that
any portion of such property is not used exclusively for residential
purposes, but is used for other purposes, such portion shall be subject
to taxation and only the remaining portion used exclusively for residential
purposes shall be subject to the exemption provided by this article.
Such property shall be the primary residence of the Cold War veteran
or the unremarried surviving spouse of a Cold War veteran, unless
the Cold War veteran or unremarried surviving spouse is absent from
the property due to medical reasons or institionalization.
The latest final equalization rate established by the State
Board of Equalization and Assessment.
The purpose of this article is to grant a partial exemption
from real property taxation to the extent of 15% of the assessed value
up to $12,000 of assessed value of qualified residential real property
which is owned by a Cold War veteran who is a qualified owner, or
in the case of a Cold War veteran who is qualified owner and who received
a compensation rating from the United States Veterans Administration
or from the United States Department of Defense because of a service-related
disability, to the extent of the product of the assessed value of
such qualified residential real property multiplied by 50% of the
Cold War veteran's disability rating up to an assessed valuation of
$40,000 of assessed value, in accordance with the requirements of
§ 458-b of the Real Property Tax Law.
Qualified residential real property owned by qualified owners
who are Cold War veterans shall be exempt from Town real property
taxes to the extent as follows:
A.
To the extent of 15% of the assessed value of such qualified residential
real property; provided, however, that such exemption shall not exceed
$12,000 or the product of $12,000 multiplied by the latest state equalization
rate of the assessing unit, whichever is less; and
B.
In addition to the exemption provided by Subsection A, where the Cold War veteran received a compensation rating from the United States Veterans Administration or from the United States Department of Defense because of a service-connected disability, to the extent of the product of the assessed valuation of such qualified residential real property multiplied by 50% of the Cold War veterans's 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, whichever is less.
If a Cold War veteran has a real property tax exemption under
§§ 458 or 458-a of the Real Property Tax Law, such
veteran shall not be eligible to receive this exemption.
[Amended 1-24-2018 by L.L. No. 1-2018]
The exemption provided herein shall apply to qualifying owners
of qualifying real property for as long as they remain qualifying
owners, without regard to the ten-year limitation set forth in New
York State Real Property Tax Law § 458-b.
Application for the exemption shall be made by the qualified
owner on a form prescribed by the state board and/or Town. The owner
shall file the completed form in the Town Assessor's office on or
before the appropriate taxable status date.
