BOE adopts Veterans’ Exemption

At its meeting on on Feb. 23, the Liberty Board of Education adopted
the Alternative Veterans’ Exemption at the minimum level, which
exempts a portion of eligible veterans’ property values from school
taxes based on state law.

Liberty adopted the minimum level of exemptions for eligible
veterans:
• Basic exemption – 15 percent off the assessed value of qualified
residential properties (up to $6,000)
• Combat Zone exemption – in addition to Basic, 10 percent off for
vets who have served in a combat zone (up to $4,000)
• Disabled Veterans exemption – in addition to Basic (and Combat
Zone, if applicable), a variable discount based upon a
service-related disability (up to $20,000)

While property tax exemptions for veterans have been in effect
statewide since the 1980s, they have until now only been applied
to the county and town portions of a veteran’s tax bill. In 2013,
the New York State Legislature approved an amendment to expand the
program to school districts, which Governor Andrew Cuomo signed
into law in December 2013.

Veterans with already approved exemptions on file with their local
municipality do not need to reapply for a school tax exemption.
However, new exemption applications must be filed with the town
assessor by March 1, 2016, for September 2017 school tax bills and
January 2017 town/city/village tax bills.

Please contact your local town assessor for questions about
eligibility and applications.

 

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