[Adopted 2-8-1990 by L.L. No. 2-1990; amended in its entirety 4-8-1998 by L.L. No. 5-1998 (Ch. 183, Art. I, of the 1987 Code)]
The purpose of this article is to grant veterans who meet the
requirements set forth in New York State Real Property Tax Law § 458-a
the maximum possible real property tax exemption provided for in Subparagraph
(ii) of Paragraph (d) of Subdivision 2 of that section.
[Amended 4-11-2006 by L.L. No. 7-2006; 11-18-2015 by L.L. No. 9-2015; 2-16-2022 by L.L. No. 2-2022]
A.
Qualifying residential real property, as defined in New York State
Real Property Tax Law§ 458-a, 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 $75,000 or the product
of $75,000 multiplied by the latest state equalization rate for the
assessing unit.
B.
In addition to the exemption provided by Subsection A of this section, where the veterans served in a combat theater or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, or the armed force expeditionary medal, Navy expeditionary medal, Marine Corps expeditionary medal, or global war on terrorism expeditionary medal, qualifying residential real property, as defined in New York State Real Property Tax Law § 458-a, shall be exempt from taxation to the extent of 10% of the assessed value of such property; provided, however, that such exemption shall not exceed $50,000 or the product of $50,000 multiplied by the latest state equalization rate for the assessing unit.
C.
In addition to the exemptions provided by Subsections A and B of this section, where the 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, qualifying residential real property, as defined in New York State Real Property Tax Law § 458-a, shall be exempt from taxation to the extent of the product of the assessed value of such property multiplied by 50% of the veterans' disability rating; provided, however, that such exemption shall not exceed $250,000 or the product of $250,000 multiplied by the latest state equalization rate for the assessing unit. For purposes of this subsection, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.
