Q: What is the Veterans’ Tax Exemption?
A: The Veterans’ Tax Exemption is a reduction in taxes for some veterans who served during particular wars. The amount of the exemption can vary based on whether the veteran served in a combat or non-combat zone and whether or not they have a service disability. There are no income requirements for the exemption.
Q: How would the exemption work?
A: Unlike the STAR exemption, this tax break would not be reimbursed by the State. Therefore, the exemption lowers the tax bill for qualifying veterans and increases the taxes collected from all other property owners. The total amount collected by the school district remains the same; the exemption shifts where the money comes from.
Q: Is the school district required to offer this exemption?
A: No, the Board of Education is not required to take any action regarding adoption of exemption.
Q: Why are school districts considering this now?
A: In December, 2013, Gov. Cuomo signed legislation that authorized school districts to offer this exemption. Previously, only towns, cities, and other municipalities could offer the exemption.
Q: How do I learn more about the veterans’ tax exemption/provide feedback?
A. You can attend the community forum to be held on Wednesday, January 21, at 7 p.m. in the Junior/Senior High School Library to learn more and comment.