Village of Wesley Hills, NY Article III Cold War Veterans Exemption

[Adopted 7-10-2018 by L.L. No. 2-2018[1]]

[1] Editor's Note: This local law also redesignated former Art. III, Utility Tax, as Art. VII, renumbering §§ 200-12 through 200-31 as §§ 200-36 through 200-55, respectively.

§ 200-15 Legislative intent.

This article is enacted pursuant to the authority of § 458-b of the Real Property Tax Law of the State of New York, which authorizes the Village of Wesley Hills to grant a partial tax exemption for Cold War Veterans.

§ 200-16 Definitions.

As used in this article, the terms "qualified residential real property," "qualified owner," "Cold War veteran," and "latest state equalization rate" shall have the meanings set forth in Subdivision 1 of § 458-b of the Real Property Tax Law.

§ 200-17 Exemption granted.

Pursuant to the provisions of Subdivision 2 (a) of § 458-b of the Real Property Tax Law of the State of New York, the maximum Cold War veterans exemption from real property taxes allowable pursuant to § 458-b of the Real Property Tax Law is established as follows:

A. Qualified 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 $12,000 or the product of $12,000 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 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, qualified 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 Cold War veteran's disability rating; provided, however, that such exemption shall not exceed the lesser of $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the Village of Wesley Hills.

C. If a Cold War veteran receives the exemption under § 458 of the Real Property Tax Law of the State of New York or § 458-a of the Real Property Tax Law (as applicable in the Village of Wesley Hills pursuant to Article II of this Chapter 200 of the Code of the Village of Wesley Hills), the Cold War veteran shall not be eligible to receive the exemption under this article.

D. The exemption provided by Subsection A of this section shall apply to qualified owners of qualified residential real property for as long as they remain qualified owners, notwithstanding the ten-year limitation period set forth in Subdivision 2 (c) (iii) of § 458-b of the Real Property Tax Law.

§ 200-18 When effective; applicability.

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.