[Added 9-26-1984 by L.L. No. 2-1984]
[Amended 11-14-2016 by L.L. No. 1-2016]
Findings. Real Property Tax Law (RPTL) § 458-a was adopted by the New York State Legislature and became effective August 30, 1984. RPTL § 458-a provides for an alternative veterans exemption from real property taxes. The alternative veterans exemption would be mandatory unless an affected municipality, including villages, timely opted out of its provisions. By Local Law 2-1984, adopted September 26, 1984, the Village opted out of the provisions of RPTL § 458-a. After further study and evaluation of the law, its current and future impacts on the Village and its intended benefits for eligible veterans, the Board of Trustees determines that RPTL § 458-a should be made applicable within the Village. The Board further finds that the adoption of RPTL § 458-a shall have minimal, if any, adverse impact upon current or future tax rates levied against all property within the Village. The Board, therefore, determines, in accordance with RPTL § 458-a(4), to repeal Village Code § 117-23, as adopted by Local Law 2-1984, and thereby makes such law mandatory within the Village.
Maximum available alternative veterans exemption.
The maximum exemption allowable to qualifying real property exempt from taxation under RPTL § 458-a to the extent of 15% of the assessed value shall be $30,000.
The maximum exemption allowable to veterans who served in a combat theatre or combat zone of operations, as documented by the award of the United States Campaign Ribbon or Service Medal, under RPTL § 458-a to the extent of 10% of the assessed value, shall be $20,000.
The maximum exemption allowable, as an additional exemption available to a veteran who has received a compensation rating from the United States Veterans' Administration or the United States Department of Defense because of a service-connected disability, calculated as the product of the assessed value multiplied by 50% of the veteran's disability rating under RPTL § 458-a, shall be $100,000.