LOCAL LAW NO. 2 OF 2020
A
LOCAL LAW GRANTING A TAX EXEMPTION TO COLD WAR VETERANS FOR AS LONG AS THEY
REMAIN QUALIFIED OWNERS OF QUALIFYING REAL PROPERTY AND REPEALING LOCAL LAW NO.
1 0F 2019.
I. INTENT. It is the purpose of this local law to extend
to Cold War Veterans residing in the Town of Danube the benefit of a real
property tax exemption available under Real Property Tax Law 458-b and for so
long as they and their property, or properties, are qualified.
II. DEFINITIONS. The following definitions, in addition to
other definitions under Real Property Tax Law 458-b incorporated herein, shall
apply to this local law, to wit:
A. Cold War
Veteran. A person, male or female, who
served on active duty in the United States armed forces during the time period
from September 2, 1945 to December 26, 1991 and was discharged therefrom under
honorable conditions.
B. Armed
Forces. The United States army, navy,
marine corps, air force, and coast guard.
III. REQUIREMENTS,
LIMITATIONS AND RIGHTS. The maximum
exemption allowable from Town of Danube real property taxation pursuant to
Section 458-b of the Real Property Tax Law shall be fifteen (15%) per cent of
the assessed value of the qualifying residential property, provided, however,
that such exemption shall not exceed nine thousand ($9,000.00) dollars or the
product of nine thousand ($9,000.00) dollars multiplied by the latest State
equalization rate of the assessed unit, whichever is less; and, in
addition, where the “Cold War Veteran” received a compensation rating because
of a service-connected disability, such property shall be exempt from taxation
to the extent of the product of fifty (50%) per cent of the assessed value of
the property multiplied by the disability rating, not to exceed thirty thousand
($30,000.00) dollars or thirty thousand ($30,000.00) dollars multiplied by the
latest State equalization rate for the assessing unit, whichever is less.
IV. ELIGIBILITY. The eligibility for receipt of the exemption
available under Real Property Tax Law 458-b and this local law shall be solely
the determination of the Assessor for the Town of Danube.
V. REPEAL. Local Law No. 1 of 2019, “A LOCAL LAW
GRANTING A TAX EXEMPTION TO COLD WAR VETERANS FOR AS LONG AS THEY REMAIN QUALIFIED
OWNERS OF QUALIFYING REAL PROPERTY”, is hereby repealed.
VI. EFFECT. This local law shall take effect upon its
filing with the Secretary of State.
