Vets could get higher tax exemptions
Governor Andrew Cuomo has signed legislation introduced by State Senator Kenneth LaValle (R-Port Jefferson) and Assemblyman Fred Thiele Jr. (I-Sag Harbor) enabling municipalities to increase the maximum property tax exemption allowed for veterans.The rise in real property values over the last several years has forced many veterans to relocate from New York State, the two legislators said.
The new legislation would give municipalities an option to increase the cap so that areas such as Eastern Long Island, where assessed values are comparatively higher than in other areas of the state, to increase the exemptions, allowing veterans to maintain their home ownership here.
“New York is faced with some of the highest property taxes in the nation,” Mr. Thiele said. “We simply cannot allow our veterans to be pushed out of their homes after making the sacrifices they did.”
“Our veterans selflessly gave of themselves to make our country the greatest country in the world,” Mr. LaValle said.
“We owe them a tremendous amount of gratitude and enabling the tax exemption increase to reasonable levels is the least we can do to show our appreciation,” he said.
