[Adopted 9-15-2015 by L.L. No. 4-2015]
The exemption from taxation by the Incorporated Village of Hempstead provided by § 458-a(2)(d)(ii) of the Real Property Tax Law of the State of New York is hereby adopted by the Incorporated Village of Hempstead as set forth herein, provided that the property is a qualifying residential real property as defined by § 458-a(1)(d) of the Real Property Tax Law of the State of New York.
A. 
The maximum exemption allowable in Paragraphs (a), (b) and (c) of § 458-a(2)(d)(ii) of the Real Property Tax Law of the State of New York, for a veteran's qualifying residential real property is $27,000, $18,000, and $90,000 respectively or the product of $27,000, $18,000 and $90,000 multiplied by the latest state equalization rate for the assessing unit, whichever is less.
B. 
Such exemption shall be granted only upon application by the owner of such residence on a form prescribed by state board. The application shall be filed with the assessor of the Incorporated Village of Hempstead on or before the appropriate taxable status date of the Village.
C. 
If satisfied that the applicant is entitled to an exemption pursuant to this section, the assessor shall approve the application and such domicile, residential property shall thereafter be exempt from taxation as provided in this section commencing with the assessment roll prepared on the basis of the taxable status date referred to in New York State Real Property Tax Law § 458-(a)2(d)(ii). The assessed value of any exemption granted pursuant to this section shall be entered by the assessor on the assessment roll with the taxable property, with the amount of the exemption shown in a separate column.