Valley Stream schools thank vets with tax break
March 31, 2014 by Mark
All three of Valley Stream‘s elementary school districts are saying thank you to veterans by providing them with property tax relief.
The Veterans’ Tax Exemption bill was passed last week by each school board. Veterans residing in New York have already been eligible for tax exemptions on the state, county, town and village levels. In December, the New York State Legislature provided an option for school boards to do likewise.
Three levels of exemption were designated to reduce assessment value for tax purposes. For Districts 24 and 30 they are as follows: wartime vets with combat zone experience and disability (maximum $60,000), wartime vet with combat zone (maximum $20,000), and wartime vet non-combat zone (maximum $12,000). District 13 voted to use the same categories but will use half of the exemption amounts.
The exemptions will become effective in the 2014-15 school year, meaning that approximately 1,300 property owners in the three school districts are eligible for the property tax reduction. Those who do not receive the exemptions will pay a bit more. On average, the difference will be $20, $26 and $34 per year for Districts 13, 30, and 24 respectively.
These exemptions will not only help the vets but will also enrich the city’s image. Both city government and schools have many uses for print services, and the inclusion of this vet exemption in their promotional materials is likely to shine a favorable light on them.