NY A07879

Counties, cities, towns, and villages may adopt local laws to provide real property tax exemptions for parents of unmarried veterans killed in combat on their primary residence.

Exemption amounts are either 10 percent of assessed value (capped at $8,000 or $8,000 multiplied by the state equalization rate, whichever is less) or 15 percent of assessed value (capped at $12,000 or $12,000 multiplied by the state equalization rate, whichever is less).

Municipalities may reduce maximum exemption amounts to $6,000, $9,000, or $30,000 through local law adoption.

Exemption is granted for a ten-year period, with the period beginning either from the first assessment roll after local law adoption or sixty days after property purchase, whichever applies.

Applications must be filed with the assessor's office on or before the first appropriate taxable status date, with no annual refiling required unless disability percentage changes or other qualifying circumstances are altered.