[Adopted 3-3-2020 by L.L.
No. 2-2020]
It is the purpose and intent of this article to adopt the real
property tax exemptions provided for by New York Real Property Tax
Law § 458-b, which allows for certain qualifying residential
properties to receive partial exemption from taxation and special
ad valorem levies, as defined by the aforementioned statute and as
administered by the Tompkins County Department of Assessment.
This article is enacted pursuant to the grant of powers to Villages
as defined by statute.
The Village of Elmira Heights hereby adopts the tax exemption
provided for by New York Real Property Tax Law § 458-b,
and that eligibility for such exemption shall be in the manner outlined
in said laws. Pursuant to the aforementioned statute, the maximum
allowable exemption shall be 10% of the property's assessment,
not to exceed $8,000 multiplied by the latest final state equalization
rate for service during the "Cold War," and a percentage of the property's
assessment equal to 1/2 of any service-connected disability rating
not to exceed $40,000 multiplied by the latest final state equalization
rate.
The invalidity of any provision of this article shall not affect
the validity of any other provision of this article that can be given
effect without such invalid provision.
This article shall be effective as of the date of filing with
the New York Secretary of State, except that it shall be effective
from the date of service as against a person served with a copy thereof,
certified by the Village Clerk, and showing the date of its passage
and entry in the minutes of the Village Board of Trustees.
