New York State Senator Kenneth P. LaValle and New York State Assemblyman Fred W. Thiele, Jr. (I, D, WF-Sag Harbor) were joined today by Southampton Town Supervisor Anna Throne-Holst to announce the introduction of new State Legislation which would allow municipalities to increase the maximumproperty tax exemptions under the alternative veteran’s exemptions.
A.8186/S.5597 would further amend the Real Property Tax Law by providing exemptions to veterans which more appropriately reflect the recent rise in real property values. Under the proposed legislation the new cap for wartime veterans would increase from $54,000 to $75,000; from $36,000 to $50,000 for combat veterans; and, from $180,000 to $250,000 for disabled veterans.