[Adopted 12-18-2007 by L.L. No. 11-2007]
New York State Real Property Tax Law § 458-b
authorizes a partial exemption from real property taxes on qualifying
residential real property for Cold War veterans, as defined in Real
Property Tax Law § 458-b.
The terms "Cold War veterans," "service connected,"
"qualified owner," "qualified residential real property" and "latest
state equalization rate" when referenced in this article shall have
the definition(s) ascribed to them in Real Property Tax Law § 458-b,
Subdivision 1.
Pursuant to § 458-b, Subdivision 2(a),
of the Real Property Tax Law, the Town of Bethel is authorized to
adopt a local law establishing a partial exemption from the Town portion
of real property taxes for Cold War veterans or qualified owners who
own qualified residential real property within the Town of Bethel.
It is the desire of the Town of Bethel to provide for such exemption
on Town of Bethel properties to reward Cold War veterans for their
valued service to our country.
A.
Pursuant
to § 458-b, Subdivision 2(a)(ii), of the Real Property Tax
Law, the maximum exemption allowable from Town of Bethel real property
taxes shall be 15% of the qualifying residential real property assessment
not to exceed $12,000 or the product of $12,000 multiplied by the
latest state equalization rate of the assessing unit, whichever is
less.
B.
The real property tax exemption granted by this article shall apply
to qualifying owners of qualifying real property for as long as they
remain qualifying owners, without regard to the ten-year limitation
contained in Real Property Tax Law § 458-b(2)(c)(iii).
[Added 2-14-2018 by L.L.
No. 1-2018]
Pursuant to § 458-b, Subdivision 2(b), of the Real Property Tax Law, there shall be an exemption in addition to the exemption provided in § 310-29 above for a Cold War veteran who received a compensation rating from the United States Veterans Affairs or from the United States Department of Defense because of a service-connected disability. This exemption shall be equal to the product of the assessed value of the qualifying residential real property multiplied by 50% of the Cold War veteran's disability rating; provided, however, that such exemption shall not exceed $40,000 or the product of $40,000 multiplied by the latest state equalization rate for the assessing unit, whichever is less.
If a Cold War veteran receives an exemption
pursuant to Real Property Tax Law § 458 or § 458-a,
the Cold War veteran shall not be eligible to receive the exemption
established by this article.
