Veterans Exemption Local Law
Local Law #1 of 1985
Adopted Jan 24, 1985
A local law in relation to the maximum exemption allowable for the alternative veterans exemption from real property taxation.
Section 1
The purpose of this law is to reduce the maximum veterans exemption allowable pursuant to Section 458-a of the Real Property Tax Law of the State of New York.
Section 2
Pursuant to the provisions of subdivision 2(d) of Section 458-a of the Real Property Tax Law of the State of New York, the maximum veterans exemption from real property taxes allowable pursuant to Section 458-a of the Real Property Tax Law is established as follows:
•a. Qualifying residential real property shall be exempt from taxation to the extent of fifteen percent of the assessed value of such property, provided, however, that such exemption shall not exceed the lesser of six thousand dollars or the product of six thousand dollars multiplied by the latest state equalization rate for the Town of Colesville.
•b. In addition to the exemption provided by paragraph (a) of this subdivision, where the veteran served in a combat theatre or combat zone of operations, 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 ten percent of the assessed value of such property, provided, however, that such
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exemption shall not exceed the lesser of four thousand dollars or the product of four thousand dollars multiplied by the latest state equalization rate for the Town of Colesville.
•c. In addition to the exemptions provided by paragraphs (a) and (b) of this subdivision, where the veteran received a compensation rating from the United States Veteran's Administration 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 fifty percent of the veteran's disability rating, provided, however, that such exemption shall not exceed the lesser or twenty thousand dollars or the product of twenty thousand dollars multiplied by the latest state equalization rate for the Town Of Colesville.
Section 3.
This local law shall take effect immediately upon its filing with the Secretary of State.
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