The Town's "Veterans Alternative Exemption" provides a property tax exemption of 15% of assessed value to veterans who served during wartime and an additional 10% to those who served in a combat zone. The law also provides an additional exemption to disabled veterans based upon their service connected disability rating.
The new Town law increases the maximum exemption from $27,000 to $36,000 for wartime veterans; from an additional $18,000 to $24,000 $ for combat veterans; and from an additional $90,000 to $120,000 for disabled veterans.
The exemption is applicable to Town and County but not school or special district taxes and a RP-458-a exemption application must be filed with the Assessor's Office. This legislation, if approved, will provide veterans with the maximum tax exemptions allowed by the NY State Legislature.