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District Adopts Alternative Veterans Exemption

February 13, 2015

School property tax relief is coming to veterans living within the Monticello Central School District for the 2015-16 school year.

At its Feb. 12 meeting, the Monticello Central School District Board of Education approved the Alternative Veterans’ Tax Exemption at the basic maximum exemption levels as defined by the Real Property Tax Law ยง458. The exemption would be applied to the 2015-16 fiscal year, for school property tax bills issued in fall 2015.

The vote, 9-0, was met with applause by approximately thirty veterans.

The exemption benefit for disabled veterans is $40,000; veterans that served in wartime is $12,000; and $8,000 for veterans that served in a combat zone, according to school documents.

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.

Implementing a tax exemption causes a redistribution of taxes among taxpayers. Exemptions do not affect the total amount of money a district needs to raise – the tax levy. Therefore, if a town’s assessed value decreases due to exemptions, then all taxpayers would need to pay more to make up the difference. The tax rate per $1,000 of assessed value would increase for all taxpayers to generate the same amount of taxes (i.e., the tax levy).

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, 2015, for September 2015 school tax bills and January 2016 town/city/village tax bills.

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