Since 1984, veterans in New York state have been eligible for partial exemption from county, city, town and village real property taxes, and in 2014 they became eligible to receive school district exemptions if passed by local consent.
Trumansburg Central School District will hold a public hearing Monday to consider the adoption of that exemption, which the district says could shift $93,861 from eligible veterans to the rest of the tax base.
Known as the Alternative Veterans’ Exemption, the exemption applies to the primary residence of an honorably discharged veteran and next of kin who meets certain criterion.
For Trumansburg school residents, that applies to 243 parcels spread over three counties, and would impact an estimated $4,894,352 in taxable property value in Seneca, Schuyler and Tompkins counties, according to the district.
The exemptions cover three categories of veteran wartime, combat zone and disability and have different maximum values for each, which can increase or decrease as set by the board of education.
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Posted by Arnaldo Rodgers on 12:31 pm, With 0 Reads, Filed under Economy, General News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.