|
|
TOWN LAW
|
LOCAL LAW #l of the year l985: A local law on ALTERNATIVE VETERANS EXEMPTION WITH REDUCTION OF MAXIMUM EXEMPTION BE IT ENACTED BY THE Town Board of the Town of Hancock as follows: Section l. 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 Hancock. (b) In addition to the exemption provided by Paragraph (a) of this subdivision, where the veteran served in a combat theater or combat zone or 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 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 Hancock. (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 of twenty thousand dollars or the product of twenty thousand dollars multiplied by the latest State equalization rate for the Town of Hancock. Section 3. This local law shall take effect immediately upon its filing with the Secretary of State.
I HEREBY CERTIFY THAT LOCAL LAW annexed hereto, designated as
Local Law l of l985 of the Town of Hancock was dully passed by the Town Board on
January 28, 1985 in accordance with the applicable provisions of law. |
| Back to Town Clerk |