[Adopted 2-20-2018 by L.L. No. 2-2018]
This article is adopted pursuant to the provisions of § 458-b
of the Real Property Tax Law and the Municipal Home Rule Law of the
State of New York.
This article shall be known as "A Local Law Extending Property
Tax Exemption for Veterans."
It is the intent of this article to provide an exemption of
real property tax for Cold War Veterans pursuant to New York State
Real Property Tax Law § 458-b, allowing the exemption of
15% of the assessed value of the property owned by such qualified
veteran which exemption shall not exceed $12,000, and in addition
to provide a disability exemption to the multiple of 50% of the disability
rating, not to exceed $40,000.
A.
As is authorized by Real Property Tax Law § 458-b, the
Town of Kendall 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 $12,000 or the product of $12,000 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.
In addition, as is authorized by Real Property Tax Law § 458-b, to the exemption provided by Subsection A of this section 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 $40,000, or the product of $40,000 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.
The exemption authorized by this article 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 Real
Property Tax Law 458-b.
If any part or section of this article shall be held to be invalid,
the remaining provisions thereof shall not fail but shall remain in
full force and effect.
