How Veterans Property Tax Exemptions Work in the City of New Rochelle and Throughout Westchester County

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New Rochelle City Finance Commissioner Howard Ratner provided the following information describing the available property tax exemptions for veterans in New Rochelle and a table comparing the City's policy with municipalities throughout Westchester County as well as the County government itself:

The eligible funds veterans' real property tax exemption (Real Property Tax Law, section 458) provides a partial exemption where property owned by a veteran or certain other persons designated in the law has been purchased with pension, bonus, or insurance monies, referred to as "eligible funds." Another exemption, known as the alternative veterans' exemption (Real Property Tax Law, section 458-a), is available only for residential property of veterans who served during wartime or received an expeditionary medal. Also the cold war veterans' exemption (Real Property Tax Law 458-b), is available to veterans who served on active duty (exclusive of training) in the United States armed forces between September 2, 1945 and December 26, 1991, and who are not currently receiving either the eligible funds or alternative veterans' exemption. For additional information, visit here.

As it pertains to the alternative veterans' exemption, a qualified residential parcel receives an exemption equal to 15% of its assessed value or the first figure in the table below for the municipality multiplied by the applicable equalization rate, whichever is less. An additional exemption equal to 10% of its assessed value or the middle figure in the table below for the municipality multiplied by the applicable equalization rate, which ever is less, is available to eligible combat veterans. Where a veteran has received a service-connected disability rating from the Veterans' Administration or the Department of Defense, there is an additional exemption which is equal to one-half of the disability rating, multiplied by the assessed value of the property or the last figure in the table below for the municipality multiplied by the applicable equalization rate, which ever is less.

Alternative Veterans Exemption

As it pertains to the cold war veterans' exemption, a qualified residential parcel receives an exemption equal to 10% or 15% of its assessed value or the first figure in the table below for the municipality multiplied by the applicable equalization rate, whichever is less. Where a veteran has received a service-connected disability rating from the Veterans' Administration or the Department of Defense, there is an additional exemption which is equal to one-half of the disability rating, multiplied by the assessed value of the property or the last figure in the table below for the municipality multiplied by the applicable equalization rate, which ever is less.

Cold War Veterans Exemption

* The Cold War Veteran's Exemption has not been adopted in the Village of Briarcliff Manor

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