LaValle And Thiele Announce New Legislation Increasing Veteran Property Tax Exemptions
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.
“On the East End, where the cost of owning a home is so high, this legislation could provide some additional, much needed relief for our veterans who have served us all,” stated Assemblyman Thiele.
"As property values rise, municipalities should be afforded the opportunity to increase the maximum exemptions allowed under the alternative veteran's exemption to provide a worthwhile means to help war-time veterans maintain home ownership. Our veterans deserve no less," Senator LaValle said.