§ 452. Veterans organizations. 1. Real property owned by a
corporation, association or post composed of veterans of the Grand Army
of the Republic, Veterans of Foreign Wars, Disabled American Veterans,
the United Spanish War Veterans, the Jewish War Veterans of the United
States, Inc., Catholic War Veterans, Inc., the American Legion, AMVETS,
American Veterans of World War II, Italian American War Veterans of the
United States, Incorporated, Masonic War Veterans of the State of New
York, Incorporated, Vietnam Veterans of America and any other
corporation or association of veterans of the armed forces of the United
States in any war, actually and exclusively used and occupied by such
corporation, association or post shall be exempt from taxation and
exempt from special ad valorem levies and special assessments to the
extent provided in section four hundred ninety of this chapter.

2. (a) Such real property shall be so exempt although it or a portion
thereof is used by another corporation or association whose real
property would be entitled to an exemption pursuant to any section in
titles one or two of this article except sections four hundred eight,
four hundred forty, four hundred sixty-six or four hundred
seventy-eight, if such corporation or association itself owned such real
property, as long as any moneys paid to the owning corporation,
association or post by the using corporation or association do not
exceed the amount of carrying, maintenance and depreciation charges of
the property or portion thereof, as the case may be.

(b) If a portion of such real property is actually and exclusively
used by any person whose real property would not be so entitled to an
exemption, such portion shall be subject to taxation, special ad valorem
levies and special assessments and the remaining portion only shall be
exempt as provided herein subject to the provisions of paragraph (c) of
this subdivision.

(c) The portion of real property which would otherwise be subject to
taxation, special ad valorem levies and special assessments under
paragraph (b) of this subdivision shall be exempt therefrom for purposes
of any municipal corporation in which such property is located only if
the governing body of such municipal corporation, after a public
hearing, adopts a local law, ordinance or resolution so providing.

3. Real property owned by a soldiers' monument corporation organized
pursuant to section fourteen hundred five of the not-for-profit
corporation law shall be eligible for full or partial exemption from
taxation as provided in this section if:

(a) such property is not used in such manner as entitles it to
exemption pursuant to section four hundred forty-two of this chapter,
and

(b) the membership of such corporation is composed of specified
veterans as provided in subdivision one of this section, and

(c) such property is, notwithstanding any provision of such
corporation's certificate of incorporation to the contrary, actually and
exclusively used and occupied by such corporation in a manner otherwise
entitling it to exemption under subdivision one or two of this section.