Section 458-B. Exemption for Cold War veterans

1. As used in this section:
    (a)  "Cold  War veteran" means a person, male or female, who served on
  active duty in the United States armed forces, during  the  time  period
  from   September   second,   nineteen  hundred  forty-five  to  December
  twenty-sixth,  nineteen  hundred  ninety-one,  and  was  discharged   or
  released therefrom under honorable conditions.
    (b)  "Armed  forces" means the United States army, navy, marine corps,
  air force, and coast guard.
    (c) "Active duty" means full-time duty  in  the  United  States  armed
  forces, other than active duty for training.
    (d)  "Service  connected"  means, with respect to disability or death,
  that such disability was incurred  or  aggravated,  or  that  the  death
  resulted  from  a  disability incurred or aggravated, in line of duty on
  active military, naval or air service.
    (e) "Qualified owner" means a Cold War veteran, the spouse of  a  Cold
  War  veteran, or the unremarried surviving spouse of a deceased Cold War
  veteran. Where property is owned by more than one qualified  owner,  the
  exemption  to which each is entitled may be combined. Where a veteran is
  also the unremarried surviving spouse of a veteran, such person may also
  receive any exemption to which the deceased spouse was entitled.
    (f) "Qualified residential real property" means property  owned  by  a
  qualified  owner  which  is  used  exclusively for residential purposes;
  provided, however, that in the event that any portion of  such  property
  is  not used exclusively for residential purposes, but is used for other
  purposes, such portion  shall  be  subject  to  taxation  and  only  the
  remaining  portion  used  exclusively  for residential purposes shall be
  subject to the exemption provided by this section. Such  property  shall
  be  the  primary  residence  of  the Cold War veteran or the unremarried
  surviving spouse of a Cold War veteran, unless the Cold War  veteran  or
  unremarried  surviving spouse is absent from the property due to medical
  reasons or institutionalization.
    * (g)  "Latest  state  equalization  rate"  means  the  latest   final
  equalization  rate  established  by  the state board pursuant to article
  twelve of this chapter.
    * NB Effective until January 2, 2010
    * (g) "Latest state equalization rate" means the  latest  final  state
  equalization  rate or special equalization rate established by the state
  board pursuant to article twelve of this chapter. The state board  shall
  establish  a special equalization rate if it finds that there has been a
  material change in the level of assessment since  the  establishment  of
  the  latest  state equalization rate, but in no event shall such special
  equalization rate exceed one  hundred.  In  the  event  that  the  state
  equalization  rate exceeds one hundred, then the state equalization rate
  shall be one hundred for the purposes of this section. Where  a  special
  equalization  rate  is  established  for  purposes  of this section, the
  assessor is directed and authorized to recompute the Cold  War  veterans
  exemption  on  the assessment roll by applying such special equalization
  rate instead of the  latest  state  equalization  rate  applied  in  the
  previous  year and to make the appropriate corrections on the assessment
  roll, notwithstanding the  fact  that  such  assessor  may  receive  the
  special  equalization rate after the completion, verification and filing
  of such final assessment roll. In the event that the assessor  does  not
  have  custody  of  the roll when such recomputation is accomplished, the
  assessor shall certify such recomputation to the local  officers  having
  custody  and  control  of  such roll, and such local officers are hereby
  directed and authorized  to  enter  the  recomputed  Cold  War  veterans
  exemption certified by the assessor on such roll.
    * NB Effective January 2, 2010

    (h)   "Latest   class  ratio"  means  the  latest  final  class  ratio
  established by the state board pursuant to title one of  article  twelve
  of  this  chapter  for  use  in  a  special assessing unit as defined in
  section eighteen hundred one of this chapter.
    * 2.  (a)  Each county, city, town or village may adopt a local law to
  provide that qualifying residential real property shall be  exempt  from
  taxation  to the extent of either: (i) ten percent of the assessed value
  of such property; provided however, that such exemption shall not exceed
  eight  thousand  dollars  or  the  product  of  eight  thousand  dollars
  multiplied  by the latest state equalization rate of the assessing unit,
  or, in the case of a special assessing unit,  the  latest  class  ratio,
  whichever is less or; (ii) fifteen percent of the assessed value of such
  property;  provided however, that such exemption shall not exceed twelve
  thousand dollars or the product of twelve thousand dollars multiplied by
  the latest state equalization rate of the assessing  unit,  or,  in  the
  case  of  a special assessing unit, the latest class ratio, whichever is
  less.
    (b) In addition to the exemption provided by  paragraph  (a)  of  this
  subdivision,  where  the Cold War veteran received a compensation rating
  from the United States  veterans  affairs  or  from  the  United  States
  department  of  defense  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 Cold War veteran  disability  rating;
  provided,  however,  that such exemption shall not exceed forty thousand
  dollars, or the product of forty  thousand  dollars  multiplied  by  the
  latest  state  equalization rate for the assessing unit, or, in the case
  of a special assessing unit, the latest class ratio, whichever is less.
    (c) Limitations. (i) The exemption  from  taxation  provided  by  this
  subdivision  shall  be  applicable  to  county,  city, town, and village
  taxation, but shall  not  be  applicable  to  taxes  levied  for  school
  purposes.
    (ii)  If  a Cold War veteran receives the exemption under section four
  hundred fifty-eight or four hundred fifty-eight-a  of  this  title,  the
  Cold  War  veteran  shall not be eligible to receive the exemption under
  this section.
    (iii) Each county, city, town, or village may adopt  a  local  law  to
  reduce  the maximum exemption allowable in subparagraphs (i) and (ii) of
  paragraph (a)  of  this  subdivision  and  the  exemption  allowable  in
  paragraph (b) of this subdivision to six thousand dollars, nine thousand
  dollars  and  thirty  thousand  dollars,  respectively  or four thousand
  dollars, six thousand dollars and twenty thousand dollars, respectively.
    (iv) The exemption provided by paragraph (a) of this subdivision shall
  be granted for a period of ten years. The commencement of such ten  year
  period  shall  be  governed  pursuant  to  this  subparagraph.  Where  a
  qualified  owner  owns  qualifying  residential  real  property  on  the
  effective  date  of the local law providing for such exemption, such ten
  year period shall be measured from the assessment roll prepared pursuant
  to the first taxable status date occurring on  or  after  the  effective
  date  of  the  local law providing for such exemption. Where a qualified
  owner does not own qualifying residential real property on the effective
  date of the local law providing for such exemption, such ten year period
  shall be measured from the assessment  roll  prepared  pursuant  to  the
  first  taxable  status date occurring at least sixty days after the date
  of purchase of qualifying residential real property; provided,  however,
  that  should  the  veteran  apply for and be granted an exemption on the
  assessment roll prepared pursuant to a  taxable  status  date  occurring
  within  sixty  days  after  the  date  of  purchase  of residential real

  property, such  ten  year  period  shall  be  measured  from  the  first
  assessment roll in which the exemption occurs. If, before the expiration
  of  such ten year period, such exempt property is sold and replaced with
  other  residential real property, such exemption may be granted pursuant
  to this subdivision for the unexpired portion of the ten year  exemption
  period.
    * NB Effective until January 2, 2010
    * 2.  (a)  Each county, city, town or village may adopt a local law to
  provide that qualifying residential real property shall be  exempt  from
  taxation  to the extent of either: (i) ten percent of the assessed value
  of such property; provided however, that such exemption shall not exceed
  eight  thousand  dollars  or  the  product  of  eight  thousand  dollars
  multiplied  by the latest state equalization rate of the assessing unit,
  or, in the case of a special assessing unit,  the  latest  class  ratio,
  whichever is less or; (ii) fifteen percent of the assessed value of such
  property;  provided however, that such exemption shall not exceed twelve
  thousand dollars or the product of twelve thousand dollars multiplied by
  the latest state equalization rate for the assessing unit,  or,  in  the
  case  of  a special assessing unit, the latest class ratio, whichever is
  less.
    (b) In addition to the exemption provided by  paragraph  (a)  of  this
  subdivision,  where  the Cold War veteran received a compensation rating
  from the United States  veterans  affairs  or  from  the  United  States
  department  of  defense  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 Cold War veteran  disability  rating;
  provided,  however,  that such exemption shall not exceed forty thousand
  dollars, or the product of forty  thousand  dollars  multiplied  by  the
  latest  state  equalization rate for the assessing unit, or, in the case
  of a special assessing unit, the latest class ratio, whichever is less.
    (c) Limitations. (i) The exemption  from  taxation  provided  by  this
  subdivision  shall  be  applicable  to  county,  city, town, and village
  taxation, but shall  not  be  applicable  to  taxes  levied  for  school
  purposes.
    (ii)  If  a Cold War veteran receives the exemption under section four
  hundred fifty-eight or four hundred fifty-eight-a  of  this  title,  the
  Cold  War  veteran  shall not be eligible to receive the exemption under
  this section.
    (iii) The exemption provided by  paragraph  (a)  of  this  subdivision
  shall be granted for a period of ten years. The commencement of such ten
  year  period  shall  be  governed pursuant to this subparagraph. Where a
  qualified  owner  owns  qualifying  residential  real  property  on  the
  effective  date  of the local law providing for such exemption, such ten
  year period shall be measured from the assessment roll prepared pursuant
  to the first taxable status date occurring on  or  after  the  effective
  date  of  the  local law providing for such exemption. Where a qualified
  owner does not own qualifying residential real property on the effective
  date of the local law providing for such exemption, such ten year period
  shall be measured from the assessment  roll  prepared  pursuant  to  the
  first  taxable  status date occurring at least sixty days after the date
  of purchase of qualifying residential real property; provided,  however,
  that  should  the  veteran  apply for and be granted an exemption on the
  assessment roll prepared pursuant to a  taxable  status  date  occurring
  within  sixty  days  after  the  date  of  purchase  of residential real
  property, such  ten  year  period  shall  be  measured  from  the  first
  assessment roll in which the exemption occurs. If, before the expiration
  of  such ten year period, such exempt property is sold and replaced with

  other residential real property, such exemption may be granted  pursuant
  to  this subdivision for the unexpired portion of the ten year exemption
  period. Each county, city, town or village may  adopt  a  local  law  to
  reduce the maximum exemption allowable in paragraphs (a) and (b) of this
  subdivision  to  six  thousand dollars, nine thousand dollars and thirty
  thousand dollars, respectively, or four thousand dollars,  six  thousand
  dollars  and  twenty  thousand dollars, respectively. Each county, city,
  town, or village is also authorized to adopt a local law to increase the
  maximum  exemption  allowable  in  paragraphs  (a)  and  (b)   of   this
  subdivision  to ten thousand dollars, fifteen thousand dollars and fifty
  thousand  dollars,  respectively;  twelve  thousand  dollars,   eighteen
  thousand  dollars  and  sixty  thousand  dollars, respectively; fourteen
  thousand dollars,  twenty-one  thousand  dollars  and  seventy  thousand
  dollars,  respectively;  sixteen  thousand dollars, twenty-four thousand
  dollars and eighty thousand  dollars,  respectively;  eighteen  thousand
  dollars,  twenty-seven  thousand  dollars  and  ninety thousand dollars,
  respectively; twenty thousand dollars, thirty thousand dollars  and  one
  hundred  thousand  dollars,  respectively;  twenty-two thousand dollars,
  thirty-three thousand dollars and  one  hundred  ten  thousand  dollars,
  respectively;  twenty-four thousand dollars, thirty-six thousand dollars
  and one hundred twenty thousand dollars, respectively.  In  addition,  a
  county,   city,   town   or   village   which  is  a  "high-appreciation
  municipality" as defined in this subparagraph is authorized to  adopt  a
  local  law to increase the maximum exemption allowable in paragraphs (a)
  and (b) of this subdivision to twenty-six thousand dollars,  thirty-nine
  thousand  dollars and one hundred thirty thousand dollars, respectively;
  twenty-eight  thousand  dollars,  forty-two  thousand  dollars  and  one
  hundred  forty  thousand dollars, respectively; thirty thousand dollars,
  forty-five thousand dollars and  one  hundred  fifty  thousand  dollars,
  respectively;  thirty-two thousand dollars, forty-eight thousand dollars
  and  one  hundred  sixty  thousand  dollars,  respectively;  thirty-four
  thousand  dollars,  fifty-one  thousand  dollars and one hundred seventy
  thousand dollars, respectively; thirty-six thousand dollars,  fifty-four
  thousand  dollars and one hundred eighty thousand dollars, respectively.
  For purposes of this subparagraph,  a  "high-appreciation  municipality"
  means:  (A)  a  special  assessing unit that is a city, (B) a county for
  which the state board has established a sales price differential  factor
  for  purposes  of  the STAR exemption authorized by section four hundred
  twenty-five of this title in three consecutive years, and  (C)  a  city,
  town or village which is wholly or partly located within such a county.
    * NB Effective January 2, 2010
    * 3.  Notwithstanding  the  foregoing  provisions  of this section, no
  later than ninety days before the taxable status date next occurring  on
  or  after  the  thirty-first  of  December,  two thousand seven, after a
  public hearing, the governing body of any county, city, town, or village
  may adopt a local law to provide that the  exemption  shall  be  granted
  pursuant  to  this  section  for  the  purposes of taxes levied for such
  county, city, town, or village. For the purposes of a  county  which  is
  not  an  assessing  unit,  the taxable status date occurring on or after
  December thirty-first, two thousand seven shall mean the first such  tax
  roll for which the county taxes are levied.
    * NB Effective until January 2, 2010
    * 3.  Application  for exemption shall be made by the owner, or all of
  the owners, of the property on a form prescribed by the state board. The
  owner or owners shall file the completed form in the  assessor's  office
  on  or  before  the first appropriate taxable status date. The exemption
  shall continue in full force and effect for all  appropriate  subsequent
  tax  years and the owner or owners of the property shall not be required

  to refile each year. Applicants shall be required to refile on or before
  the appropriate taxable status date  if  the  percentage  of  disability
  percentage  increases  or  decreases or may refile if other changes have
  occurred which affect qualification for an increased or decreased amount
  of  exemption.  Any  applicant  convicted  of willfully making any false
  statement in the application for such exemption shall be subject to  the
  penalties prescribed in the penal law.
    * NB Effective January 2, 2010
    * 4.  Application  for exemption shall be made by the owner, or all of
  the owners, of the property on a form prescribed by the state board. The
  owner or owners shall file the completed form in the  assessor's  office
  on  or  before  the first appropriate taxable status date. The exemption
  shall continue in full force and effect for all  appropriate  subsequent
  tax  years and the owner or owners of the property shall not be required
  to refile each year. Applicants shall be required to refile on or before
  the appropriate taxable status date  if  the  percentage  of  disability
  percentage  increases  or  decreases or may refile if other changes have
  occurred which affect qualification for an increased or decreased amount
  of exemption. Any applicant convicted  of  willfully  making  any  false
  statement  in the application for such exemption shall be subject to the
  penalties prescribed in the penal law.
    * NB Effective until January 2, 2010
    *  4. Notwithstanding the provisions of  this  section  or  any  other
  provision  of law, in a city having 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.
    * NB Effective January 2, 2010
    * 4-a.  Notwithstanding  the  provisions  of this section or any other
  provision of law, in a city having 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.
    * NB Effective until January 2, 2010
    5. A local law adopted pursuant to this section may be repealed by the
  governing body of the applicable county, city, town,  or  village.  Such
  repeal shall occur at least ninety days prior to the taxable status date
  of such county, city, town, or village.
    * 6.  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 this section,
  were such person or persons the owner or owners of such real property.
    * NB Effective January 2, 2010
    * 7. (a) For the purposes of this section, title  to  the  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 or her 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-stock-holder  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 corporation may be exempt from taxation pursuant
  to this section by a municipality in which such property is located only
  if the governing body of such municipality, after public hearing, adopts
  a local law, ordinance or resolution providing therefor.
    * NB Effective January 2, 2010