[Adopted 12-11-1984 by L.L. No. 19-1984; amended in its entirety 7-10-2018 by L.L. No. 2-2018]
The purpose of this article is to increase the maximum veterans
alternative exemption allowable pursuant to § 458-a of the
Real Property Tax Law of the State of New York.
As used in this article, the terms "qualified owner," "qualifying
residential real property," "veteran," and "latest state equalization
rate" shall have the meanings set forth in Subdivision 1 of § 458-a
of the Real Property Tax Law. As used in this article, the term "Gold
Star Parent" shall have the meaning set forth in Subdivision 7 of § 458-a
of the Real Property Tax Law.
Pursuant to the provisions of Subdivision 2(d) of § 458-a
of the Real Property Tax Law of the State of New York, the maximum
veterans exemption from real property taxes allowable pursuant to § 458-a
of the Real Property Tax Law is established as follows:
A.
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 the lesser of $75,000
or the product of $75,000 multiplied by the latest state equalization
rate for the Village of Wesley Hills.
B.
In addition to the exemption provided by Subsection A of this section, where the veteran served in a combat theatre or combat zone of operations, as documented by the award of a United States campaign ribbon or service medal, or the armed forces expeditionary medal, navy expeditionary medal, marine corps expeditionary medal, or global war on terrorism expeditionary medal, qualifying residential real property also 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 the lesser of $50,000 or the product of $50,000 multiplied by the latest state equalization rate for the Village of Wesley Hills.
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 Department of Veterans Affairs or from the United States Department of Defense because of a service-connected disability, qualifying residential real property also shall be exempt from taxation to the extent of the product of the assessed value of such property multiplied by 50% of the veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $250,000 or the product of $250,000 multiplied by the latest state equalization rate for the Village of Wesley Hills.
A.
For the purpose of eligibility for an alternative veterans exemption provided for by Subsections A and B of § 200-12, a Gold Star Parent is included within the definition of a "qualified owner," and the property owned by a Gold Star Parent is included within the definition of "qualifying residential real property," provided that such property shall be the primary residence of the Gold Star Parent.
This article shall take effect immediately upon this article
being filed with the Secretary of State and shall apply to assessment
rolls prepared on the basis of taxable status dates occurring on or
after January 1, 2019.
