Showing posts with label tax exemption. Show all posts
Showing posts with label tax exemption. Show all posts

Wednesday, March 19, 2014

New York Veterans Might Receive School Tax Exemption

In December 2013 Gov. Andrew Cuomo signed a bill that would allow school districts to implement a Veterans Tax Exemption for school taxes.

This exemption would be in addition to exemptions veterans are entitled to for county, city, town, and village taxes. The exemptions 15 percent reduction in assessed value for veterans who served during at time of war, another 10 percent for those who were in combat zones. and an additional reduction for service-connected disabilities.

It seems many school districts are taking their time to implement this exemption, and some have refused to allow this particular exemption to take effect; saying that this would shift the tax burden to non-veterans. One school district estimated that it would create an increase of $0.73 for non-veteran tax payers.


New York does have tax exemptions for veterans, the three exemptions are:
Alternative Veterans Exemption: Available only on residential property of a veteran who served during a designated time of war or who have received an Expeditionary Medal.

Cold War Veterans Exemption. Available only on residential property of a veteran who served during the Cold War.

Eligible Funds Exemption. Applies to property that a veteran or certain other designated person purchases. Such purchases must be made with pension, bonus, or insurance monies.

This school tax exemption would be another small way to say Thank You to our veterans, and should be granted.

---- Jerald Terwilliger  Chairman American Cold War Veterans "We Remember" ---------------- "And so the greatest of American triumphs... became a peculiarly joyless victory. We had won the Cold War, but there would be no parades." -- Robert M. Gates, 1996
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Friday, March 14, 2014

Maine House Enacts Veterans Tax Exemption Bill

The Maine House has approved a bill that will allow Iraq and Afghanistan veterans to take advantage of a property tax exemption that veterans of previous conflicts can receive now.

The vote was 144-0 and the bill now goes to the Maine Senate for final consideration.

Rep. Anne-Marie Mastraccio said "This unanimous vote did more than provide smart relief and assistance to Maine veterans." "It demonstrated that lawmakers are capable of coming together on issues that cross party lines and make the right choice for Maine."

The bill would clarify that veterans who have served in Iraq or Afghanistan are eligible to exempt $6,000 of property value from their property tax assessment.

The exemption would take effect when they reach 62 years of age or if they are ruled 100 percent service connected disabled. This is a benefit that veterans of most other conflicts already receive.

These veterans of Afghanistan or Iraq currently do qualify for the exemption because they served during a federally recognized war period. Often, though veterans or town assessors who search online to determine who is eligible mistakenly conclude that these veterans are not eligible because there is
currently no reference to the conflicts in Iraq and Afghanistan.

This bill clearly states that Maine's Iraq and Afghanistan veterans are eligible and formally recognizes their service under Maine law.

So veterans of Iraq and Afghanistan if your are rated 100 precent by the VA, or if/when you reach
62 contact your local town assessor to apply for this tax exemption.  $6,000 might make a difference in your total property tax.

---- Jerald Terwilliger Former Chairman American Cold War Veterans "We Remember" ---------------- "And so the greatest of American triumphs... became a peculiarly joyless victory. We had won the Cold War, but there would be no parades." -- Robert M. Gates, 1996

Monday, January 16, 2012

New York State increases tax exemption for Cold War Veterans

The New York Sate Legislature has taken a brave step forward for Cold War Veterans.

The legislature recently increased the amount of tax exemptions being given to Cold War Veterans. The increase was from $12,000 to $54,000. For those with service connected disabilities the increase is from $54,000 to $180,000.

This exemption is for those who served during the Cold War, from Sept. 2, 1945 to Dec. 26, 1991. Other tax exemptions for those who served during wartime periods are already in place.

It is now up to each local tax board and city council to approve the increase. It is hoped that even with
municipalities facing financial problems that each and everyone will approve the new exemption amounts as quickly as possibly.

It is just a small way to thank, honor and remember those who served. Cold War Veterans are a
very large voting block, and will remember who stood up to assist us for a long time. For those
who might be against these increases, veterans have a long memory, elections are not that far away.

Jerald Terwilliger
National Chairman
American Cold War Veterans
"We Remember"


---------------- "And so the greatest of American triumphs... became a peculiarly joyless victory. We had won the Cold War, but there would be no parades." -- Robert M. Gates, 1996