[Adopted 5-7-1997 by L.L. No. 2-1997 (Ch.
39, Art. II, of the 1966 Code)]
A.
The Town Board finds and determines that the sacrifices
and services provided by veterans in protecting this Town should be
acknowledged by providing certain tax exemptions.
B.
By Chapter 256 of the Laws of New York for 2005, the
New York State Legislature amended Subparagraph (ii) of Paragraph
(d) of Subdivision 2 of § 458-a of the Real Property Tax
Law authorizing the adoption of a local law to increase the maximum
tax exemptions for veterans.
[Amended 2-15-2006 by L.L. No. 2-2006]
C.
The purpose of this article is to adopt maximum tax
exemptions for veterans as authorized by Chapter 256 of the Laws of
New York for 2005.
[Amended 2-15-2006 by L.L. No. 2-2006]
[Amended 2-15-2006 by L.L. No. 2-2006]
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 $36,000 or
the product of $36,000 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.
B.
In addition to the exemption provided by Subsection A of this section, where the veteran served in a combat theater or combat zone of operation, as documented by the award of a United States campaign ribbon or service 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 $24,000 or the product of $24,000 multiplied by the latest state equalization rate for the assessing unit or, in the case of a special assessing unit, the class ratio, whichever is less.
C.
In addition to the exemptions provided by Subsections B and C of this section, where the veteran received a compensation rating from the United States Veteran's Administration 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 veteran's disability rating; provided, however, that such exemption shall not exceed $120,000 or the product of $120,000 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. For the purposes of this article, where a person who served in the active military, naval or air service during a period of war died in service of a service-connected disability, such person shall be deemed to have been assigned a compensation rating of 100%.
