[Adopted 12-1-2022 by L.L. No. 8-2022]
Pursuant to the authority granted by § 458-b of the
Real Property Tax Law (RPTL) for "Exemption for Cold War Veterans,"
real property in the Town of Walworth which meets the requirements
for qualified residential real property, as defined in Real Property
Tax Law § 458-b, shall be exempt from taxation by the Town
of Walworth to the extent authorized therein, subject to the maximum
exemptions set forth herein.
Qualifying real property (as defined in Real Property Tax Law
§ 458-b) within the Town of Walworth shall be exempt from
taxation pursuant to New York Real Property Tax Law § 458-b
at the 10% exemption level with a maximum exemption of up to $8,000.
Qualifying real property (as defined in Real Property Tax Law
§ 458-b) within the Town of Walworth shall be exempt from
taxation pursuant to New York Real Property Tax Law § 458-b
to the extent of the product of the assessed value of such property,
multiplied by 50% of the Cold War veteran disability rating, with
a maximum exemption of up to $40,000.
In order to receive an exemption, application for exemption
under this article shall be made by the owner of the real property.
Application and granting of the exemption, including qualification
for this exemption, will be governed as set forth at New York Real
Property Tax Law § 458-b.
This exemption shall apply to qualifying owners of qualifying
real property for as long as they remain qualified owners, without
regard to the ten-year limitation.
