Section 458. Veterans

The following property shall be exempt from taxation:
  1.  All  property  exempt  by  law  from execution, other than an exempt
  homestead. But real property purchased with the proceeds of  a  pension,
  bonus  or  insurance,  or  dividends  or  refunds  on such insurance, or
  payments received as prisoner of war compensation from the United States
  government, heretofore or hereafter received, hereinafter referred to as
  eligible funds, granted by the  United  States  or  by  this  state  for
  military  or  naval  services, and owned by the person who rendered such
  services, or by the spouse or unremarried surviving spouse, or dependent
  father or mother, or the children under twenty-one years of age of  such
  person is subject to taxation as herein provided.
    (1)  Such  property shall be assessed in the same manner as other real
  property in the tax districts. On  or  before  the  appropriate  taxable
  status  date, a verified application on a form prescribed or approved by
  the state board for the exemption of such real  property  from  taxation
  may be filed in the appropriate assessor's office by or on behalf of the
  owner  thereof,  which  application  must  show  the  facts on which the
  exemption is claimed, including the amount of eligible funds used in  or
  toward the purchase of such property.
    (2)  Except  as  provided in subdivision five of this section, no such
  exemption on account of eligible funds paid on account  of  military  or
  naval  services  rendered by an individual shall be allowed in excess of
  five  thousand  dollars.  For  the  purposes  of  this  subdivision  any
  established  exemption,  or  newly  claimed  exemption,  or an aggregate
  thereof, as the case may be, in excess of any multiple of fifty  dollars
  shall  be  regarded  as  being the nearest multiple of fifty dollars and
  allowed in such amount. If the amount of such exemption has  no  nearest
  multiple of fifty dollars, it shall be regarded as being the next higher
  multiple  of  fifty  dollars and allowed in such amount. The mingling of
  such eligible funds with other funds or their retention  by  the  United
  States  for insurance premiums shall not bar the granting of a claim for
  such exemption.
    (3) If the assessors are satisfied that the applicant is  entitled  to
  any   exemption,   they   shall   make   appropriate  entries  upon  the
  assessment-roll opposite the description of such property  and  subtract
  the  total  amount  of  such  exemption  from  the total amount assessed
  pursuant to the provisions of paragraph one of  this  subdivision.  Such
  entries  shall  be made and continued in each assessment of the property
  so long as it is  exempt  from  taxation  for  any  purpose.  Such  real
  property, to the extent of the exemption entered by the assessors, shall
  be  exempt  from state, county and general municipal taxation, but shall
  be taxable for local school purposes. The provisions herein, relating to
  the assessment and exemption of property purchased with  eligible  funds
  apply  and shall be enforced in each municipal corporation authorized to
  levy taxes.
    (4) If the application for exemption  is  not  granted,  the  property
  shall be subject to taxation for all purposes.
    (5)  Notwithstanding  the  provisions  of  this  section  or any other
  provision of law, in any city with a population of one million or  more,
  applications for the exemption authorized pursuant to this section shall
  be  considered timely filed if they are filed on or before the fifteenth
  day of March of the appropriate year.
    2.  Real  property  purchased  with  moneys   collected   by   popular
  subscription  in  partial recognition of extraordinary services rendered
  by any honorably discharged veteran of world war one, world war two,  or
  of the hostilities which commenced June twenty-seventh, nineteen hundred
  fifty, who sustained permanent disability while on military duty, either
  total  or  partial, and owned by the person who sustained such injuries,

  or by his or her spouse or unremarried surviving  spouse,  or  dependent
  father  or  mother,  is  subject  to  taxation  as herein provided. Such
  property shall be assessed in the same manner as other real property  in
  the  tax  district.  At  the meeting of the assessors to hear complaints
  concerning the assessments, a verified application for the exemption  of
  such  real  property  from  taxation  may  be presented to them by or on
  behalf of the owner thereof, which application must show  the  facts  on
  which the exemption is claimed, including the amount of moneys so raised
  and  used  in  or  toward the purchase of such property. No exemption on
  account of any such gift shall be allowed in  excess  of  five  thousand
  dollars.  The  application  for  exemption shall be presented and action
  thereon taken in the manner provided by subdivision one of this section.
  If no application for  exemption  be  granted,  the  property  shall  be
  subject to taxation for all purposes. The provisions herein, relating to
  the assessment and exemption of property purchased with moneys raised by
  popular  subscription,  apply  and  shall  be enforced in each municipal
  corporation authorized to levy taxes.
    3. In addition to any exemption from taxation on real  property  which
  may  be  allowed  to veterans pursuant to the provisions of subdivisions
  one and two of this section, the  primary  residence  of  any  seriously
  disabled  veteran  who  is  eligible  for  pecuniary assistance from the
  United States government, or who has received pecuniary assistance  from
  the  United States government and has applied such assistance toward the
  acquisition or modification of a  suitable  housing  unit  with  special
  fixtures  or  movable  facilities  made  necessary  by the nature of the
  veteran's disability, and the necessary land therefor,  shall  be  fully
  exempt  from  taxation  and special district charges and assessments and
  special ad valorem levies. The same exemption shall also be  allowed  on
  such  a  housing  unit owned by the unremarried surviving spouse of such
  veteran, or by such veteran and spouse while occupying such premises  as
  a  residence.  The  unremarried  surviving  spouse  of  such veteran may
  transfer the exemption to any new housing unit to be used as his or  her
  primary  residence. If an exemption has already been granted pursuant to
  the provisions of subdivisions one and two of this section,  application
  for  a further exemption as herein provided may be made and action taken
  thereon in the same manner as set  forth  in  subdivision  one  of  this
  section.
    4.  The  definitions  set  forth  in  section  one hundred two of this
  chapter shall not apply to this section  and  the  terms  used  in  this
  section  shall  have the same meaning as they had prior to the enactment
  of this chapter.
    4-a. For the purposes of this section, the  term  "military  or  naval
  services"  shall  be deemed to also include service: (a) by a person who
  was employed by the War Shipping Administration  or  Office  of  Defense
  Transportation  or  their  agents as a merchant seaman documented by the
  United States Coast Guard or Department  of  Commerce,  or  as  a  civil
  servant  employed  by  the  United  States Army Transport Service (later
  redesignated as the  United  States  Army  Transportation  Corps,  Water
  Division)   or   the   Naval  Transportation  Service;  and  who  served
  satisfactorily as a crew member during the  period  of  armed  conflict,
  December  seventh,  nineteen  hundred  forty-one,  to  August fifteenth,
  nineteen hundred forty-five,  aboard  merchant  vessels  in  oceangoing,
  i.e.,  foreign,  intercoastal,  or  coastwise  service as such terms are
  defined under federal law (46 USCA 10301&10501) and further to include
  "near foreign" voyages between the United States and Canada, Mexico,  or
  the  West  Indies  via  ocean  routes,  or  public vessels in oceangoing
  service or foreign waters and who has received a Certificate of  Release
  or  Discharge  from  Active  Duty  and  a  discharge  certificate, or an

  Honorable Service Certificate/Report of Casualty, from the department of
  defense; (b) service  by  a  United  States  civilian  employed  by  the
  American  Field  Service  who served overseas under United States Armies
  and United States Army Groups in world war II during the period of armed
  conflict,  December  seventh,  nineteen  hundred  forty-one  through May
  eighth, nineteen hundred forty-five, and who was discharged or  released
  therefrom  under honorable conditions; or (c) service by a United States
  civilian Flight  Crew  and  Aviation  Ground  Support  Employee  of  Pan
  American  World Airways or one of its subsidiaries or its affiliates who
  served overseas  as  a  result  of  Pan  American's  contract  with  Air
  Transport  Command  or  Naval Air Transport Service during the period of
  armed conflict, December fourteenth, nineteen hundred forty-one  through
  August  fourteenth,  nineteen hundred forty-five, and who was discharged
  or released therefrom under honorable conditions.
    5. (a) Notwithstanding the  limitation  on  the  amount  of  exemption
  prescribed in subdivision one or two of this section, upon adoption of a
  local law by the governing board of a county, city, town or village that
  levies taxes or for which taxes are levied on an assessment roll, if the
  total  assessed  value of the real property for which such exemption has
  been granted increases or decreases as the result of  a  revaluation  or
  update  of assessments, and a material change in level of assessment, as
  provided in title two of article twelve of this  chapter,  is  certified
  for  the  assessment  roll pursuant to the rules of the state board, the
  assessor shall increase or decrease the  amount  of  such  exemption  by
  multiplying  the  amount  of  such  exemption  by the change in level of
  assessment factor. If the assessor receives the certification after  the
  completion,  verification  and  filing of the final assessment roll, the
  assessor shall certify the amount of exemption as recomputed pursuant to
  this paragraph to the local officers having custody and control  of  the
  roll,  and  such  local  officers  are hereby directed and authorized to
  enter the recomputed exemption certified by the assessor on the roll.
    (b) Notwithstanding the provisions of paragraph (b) of subdivision six
  of this section,  in  municipalities  granting  exemptions  pursuant  to
  section  four hundred fifty-eight-a of this article, a local law adopted
  pursuant to paragraph (a) of this subdivision may also authorize  owners
  of  property  who  previously  received  an  exemption  pursuant to this
  section, but who opted instead to receive exemption pursuant to  section
  four  hundred  fifty-eight-a,  to again receive an exemption pursuant to
  this section upon application by  the  owner  within  one  year  of  the
  adoption  of  such  local  law.  Where such provision is included in the
  local law, the assessor shall recompute all exemptions granted  pursuant
  to  this section by multiplying the amount of each such exemption by the
  cumulative change in level of assessment factor certified by  the  state
  board  measured  from  the  assessment  roll  immediately  preceding the
  assessment roll on which  exemptions  were  first  granted  pursuant  to
  section  four  hundred  fifty-eight-a;  provided,  however,  that  if an
  exemption pursuant to this section was initially granted to a parcel  on
  a  later  assessment  roll,  the cumulative change in level factor to be
  used in recomputing that exemption shall be measured from the assessment
  roll immediately preceding the assessment roll on which  that  exemption
  was  initially  granted. No refunds or retroactive entitlements shall be
  granted.
    (c)  Notwithstanding  the  provisions  of  subdivision  four  of  this
  section,  terms  used  in  this  subdivision  shall  be  subject  to the
  definitions of section one hundred two  of  this  chapter.  For  special
  assessing units, the change in level of assessment factor to be used for
  purposes  of  this  subdivision is the municipal-wide change in level of

  assessment factor determined for the class in which the property subject
  to exemption is included.
    (d)  (i)  For  the  purposes  of  this  paragraph  (d),  a  "recompute
  exemption" means the sum of the original exemption  and  any  additional
  eligible  funds received multiplied by the change in level of assessment
  from the assessment roll  in  the  year  the  exemption  was  originally
  granted.
    (ii)  An  assessing  unit  which  finally  files  a change in level of
  assessment  roll  in  or  after  the  calendar  year  nineteen   hundred
  ninety-eight  may,  pursuant to local law adopted by the governing board
  of a county, city, town or village that levies taxes or for which  taxes
  are levied on an assessment roll, grant to every veteran who is entitled
  to  any  additional  eligible funds a recompute exemption in lieu of the
  exemption otherwise  authorized  by  this  subdivision.  Such  recompute
  exemption may be granted on any change in level of assessment roll filed
  in  or  after  calendar  year nineteen hundred ninety-eight. A local law
  adopted  pursuant  to  this  paragraph  (d)  shall  not  be  subject  to
  referendum.
    6.  (a)  (i) Except as otherwise provided in subparagraph (ii) of this
  paragraph, no new exemption may be granted pursuant to  subdivision  one
  or  former  subdivision five of this section on an assessment roll based
  upon a taxable status date occurring on or after March second,  nineteen
  hundred  eighty-six, except for purposes of taxes levied by or on behalf
  of a county, city, town or village that has enacted and has in effect  a
  local  law  as  provided  in  subdivision  four  of section four hundred
  fifty-eight-a of this chapter. Notwithstanding the foregoing, the  owner
  of  real  property receiving an exemption pursuant to subdivision one or
  former subdivision five of this section prior to March second,  nineteen
  hundred eighty-six may continue to receive the exemption on the property
  to which it is applicable.
    (ii)  In  any  city  with  a population of one million or more, no new
  exemption  may  be  granted  pursuant  to  subdivision  one  or   former
  subdivision  five  of  this  section  on an assessment roll based upon a
  taxable status date  occurring  on  or  after  January  sixth,  nineteen
  hundred eighty-five, except for purposes of taxes levied by or on behalf
  of  such city that has enacted and has in effect a local law as provided
  in subdivision four  of  section  four  hundred  fifty-eight-a  of  this
  chapter.  Notwithstanding the foregoing provisions of this subparagraph,
  the  owner  of  real  property  receiving  an  exemption   pursuant   to
  subdivision  one  or  former  subdivision  five of this section prior to
  January sixth, nineteen hundred eighty-five may continue to receive  the
  exemption on the property to which it is applicable.
    (iii)  Except  as provided in paragraph (b) of former subdivision five
  of this section, where such property is sold  and  moneys  equalling  or
  exceeding  the  amount  of  eligible  funds  used in the purchase of the
  parcel are received upon such sale, if  such  moneys  are  at  any  time
  thereafter  used to purchase another parcel, an exemption may be granted
  as provided in subdivision one of this section provided  the  parcel  is
  otherwise eligible for such exemption.
    (iv)  The  provisions  of  former  subdivision five of this section as
  referred to in this paragraph are the provisions originally  enacted  by
  chapter  one  hundred  thirty-four  of  the  laws  of  nineteen  hundred
  seventy-nine and repealed by chapter four hundred ten  of  the  laws  of
  nineteen hundred ninety-four.
    (b)  In  lieu  of receiving an exemption pursuant to this section, the
  owner may apply for  an  exemption  pursuant  to  section  four  hundred
  fifty-eight-a  or  four  hundred  fifty-eight-b  of  this  title.  If an
  exemption is granted pursuant to section four hundred fifty-eight-a, the

  owner may not thereafter receive an exemption pursuant to this  section,
  unless  the  owner  sells  the property receiving exemption and uses the
  proceeds of such sale to purchase property in a  municipality  that  has
  adopted and has in effect a local law as provided in subdivision four of
  section  four  hundred  fifty-eight-a  of this title. In such event, the
  owner may again receive exemption pursuant to subdivision  one  of  this
  section.
    7.  Notwithstanding  any  other  provision of law to the contrary, the
  provisions of this section shall apply to  any  real  property  held  in
  trust  solely for the benefit of a person or persons who would otherwise
  be eligible for a real property tax exemption, pursuant  to  subdivision
  one, two or three of this section, were such person or persons the owner
  or owners of such real property.
    8. (a) For the purposes of this section, title to that portion of real
  property  owned  by  a  cooperative  apartment  corporation  in  which a
  tenant-stockholder of such corporation resides and which is  represented
  by his share or shares of stock in such corporation as determined by its
  or their proportional relationship to the total outstanding stock of the
  corporation, including that owned by the corporation, shall be deemed to
  be vested in such tenant-stockholder.
    (b)  Provided  that all other eligibility criteria of this section are
  met, that proportion of the assessment of such real property owned by  a
  cooperative apartment corporation determined by the relationship of such
  real  property  vested  in such tenant-stockholder to such real property
  owned  by  such  cooperative  apartment  corporation   in   which   such
  tenant-stockholder  resides  shall be subject to exemption from taxation
  pursuant to this section and any exemption so granted shall be  credited
  by  the  appropriate  taxing authority against the assessed valuation of
  such real property;  the  reduction  in  real  property  taxes  realized
  thereby  shall  be  credited  by  the  cooperative apartment corporation
  against the amount of such taxes otherwise payable by or  chargeable  to
  such tenant-stockholder.
    (c)   Notwithstanding   paragraph   (b)   of   this   subdivision,   a
  tenant-stockholder who resides in a dwelling  that  is  subject  to  the
  provisions  of  either  article two, four, five or eleven of the private
  housing finance law shall not be eligible for an exemption  pursuant  to
  this section.
    (d)  Notwithstanding  paragraph (b) of this subdivision, real property
  owned by a cooperative apartment corporation may be exempt from taxation
  pursuant to this section by a municipality in which such  real  property
  is located only if the governing body of such municipality, after public
  hearing, adopts a local law, ordinance or resolution providing therefor.
    9.  Notwithstanding the provisions of subdivision one of this section,
  the governing body of any municipality may, after public hearing,  adopt
  a  local  law,  ordinance  or  resolution providing where a veteran, the
  spouse of the veteran or unremarried surviving spouse already  receiving
  an  exemption  pursuant to this section sells the property receiving the
  exemption and purchases property within the same city, town or  village,
  the assessor shall transfer and prorate, for the remainder of the fiscal
  year,  the  exemption  which  the  veteran, the spouse of the veteran or
  unremarried surviving spouse received. The prorated exemption  shall  be
  based  upon  the  date  the  veteran,  the  spouse  of  the  veteran  or
  unremarried surviving spouse obtains title to the new property and shall
  be calculated by multiplying the tax rate or rates  for  each  municipal
  corporation  which  levied taxes, or for which taxes were levied, on the
  appropriate tax roll used for the fiscal year or years during which  the
  transfer  occurred  times the previously granted exempt amount times the
  fraction of each fiscal  year  or  years  remaining  subsequent  to  the

  transfer  of title. Nothing in this section shall be construed to remove
  the requirement that any such veteran, the  spouse  of  the  veteran  or
  unremarried  surviving spouse transferring an exemption pursuant to this
  subdivision  shall reapply for the exemption authorized pursuant to this
  section on or before the following taxable status  date,  in  the  event
  such  veteran, the spouse of the veteran or unremarried surviving spouse
  wishes to receive the exemption in future fiscal years.