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Alternative Veterans Tax Exemption

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Troy City School District seeks input from taxpayers on veterans’ exemption

The Troy City School District is asking resident taxpayers to complete a brief survey regarding the Alternative Veterans’ Tax Exemption Program.

The original state exemption allowed municipalities the choice of whether to grant the exemption. Since then, the law was amended to allow school districts the option of allowing a property tax exemption for military veterans.

Unlike the STAR exemptions, Troy CSD is not reimbursed for this exemption by the state, but rather through a redistribution of taxes. If enacted, those who qualify would see their taxes lowered and all others would see their taxes increase.

“The Troy City School District Board of Education will use the results of the survey to guide its decision on whether to enact the Veterans Tax Exemption and the appropriate level,” said Troy CSD Superintendent John Carmello. “Certainly, we want to honor our veterans for their service in any capacity that we can, but because this exemption shifts the burden to non-qualifying taxpayers, we must gather the feedback from as many residents as possible so as to make an informed decision that will affect the entire community.”

The Troy City School District Board of Education is considering the following levels of the exemption if it decides to move forward with adopting the Alternative Veterans’ Tax Exemption (all figures are approximate and based off a property with an assessed value of $100,000. All figures are subject to equalization rates):

LevelWartimeCombat ZoneDisability
C$6,000$10,000$20,000
B$9,000$15,000$30,000
A$12,000$20,000$40,000

 

Other Rensselaer County school districts to enact the exemption include Schodack CSD, Averill Park CSD and East Greenbush CSD.

Troy City School District taxpayers can take the survey beginning September 24 and ending October 26.

Click here to take the survey now!

Effect on Taxpayers

If enacted, those who qualify would see their taxes lowered and all others would see their taxes increase.

The Board will use the results of the survey to help determine whether or not to allow the exemption. If enacted, they will choose from the options below. All figures are approximate and based off a property with an assessed value of $100,000. All figures are subject to equalization rates.

Alternative Veterans Tax Exemption - Levels

 

Eligibility

  • Honorable discharge from service
  • Active duty status during wartime (Persian Gulf Conflict, Vietnam War, Korean War, World War II) for dates specified in law.
  • Veterans receiving Expeditionary Medals or who qualify under the alternatives to “period of war” service may also qualify.
  • Generally, reservists are not eligible.
  • Certain family members of veterans may be eligible.
  • Criteria is service based, not income based like some other exemptions.

 

Exemption for those who meet the criteria

  • Limited to primary residence
  • Equalization rates will apply to exemption amounts
  • Based on a percentage of assessed value subject to maximum levels of exemption:
    • 15% for wartime service
    • 25% for combat zone service
    • Up to 50% for service-connected disability

 

More information

https://www.tax.ny.gov/pit/property/exemption/vetexempt.htm

https://www.tax.ny.gov/pit/property/exemption/altvetoverview.htm

Click here to take the survey now!