[Adopted 2-26-1985; amended in its entirety 3-25-1997 by L.L. No. 3-1997]
The North Salem Town Board hereby resolves that it does not intend to adopt a local law which will deny to the veterans of this Town the exemptions allowed them pursuant to provisions of Chapter 525, Laws of 1984,[1] and the exemptions as provided therein will be applied to those eligible taxpayers of the Town of North Salem.
[1]
Editor's Note: See § 458 of the Real Property Tax Law.
[Amended 3-23-1999 by L.L. No. 4-1999]
A. 
The following set of exemptions which are the increased maximums established by § 458-a of the Real Property Tax Law shall be applicable to those eligible taxpayers in the Town of North Salem:
[Amended 3-28-2006 by L.L. No. 2-2006]
(1) 
War veterans: 15% of assessed value to a maximum of $54,000, or the product of $54,000 multiplied by the latest state equalization rate for the assessing unit.
(2) 
Combat zone veterans: 10% of assessed value to a maximum of $36,000, or the product of $36,000 multiplied by the latest state equalization rate for the assessing unit.
(3) 
Disabled veterans: 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 $180,000 or the product of $180,000 multiplied by the latest state equalization rate for the assessing unit.
B. 
The maximum exemptions will fluctuate from year to year as equalization rates change pursuant to the provisions of § 458-a of the Real Property Tax Law, as amended.