Middletown adopts Cold War Exemption
The Town of Middletown adopted the NYS Real Property Tax Law 458-b Cold War Veterans Exemption on August 12. The exemption shall be applicable to Town of Middletown taxes. “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 2, 1945 to December 26, 1991, and was discharged or released under honorable conditions.
Qualifying residential real property shall be exempt from taxation to the extent of 15 percent of the assessed value of such property; provided however, that such exemption shall not exceed $12,000 or the product of $12,000 multiplied by the latest state equalization rate of the assessing unit. In addition to the 15 percent for active duty service, a cold war veteran would receive 50 percent of a service-connected compensation rating not to exceed $40,000, or the product of $40,000 multiplied by the latest state equalization rate for the assessing unit.
A 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.
If a Cold War veteran receives an exemption under real property tax law section 458 (Eligible Funds) or 458-a (Alternative), the Cold War veteran shall not be eligible to receive the exemption under this local law.
To apply for this exemption or for further information please contact the Delaware County Veterans Service Agency, One Gallant Avenue, Delhi, NY at 607 746-2334.