November 18, 2016 -- At its November 14 meeting, the Sea Cliff Village Board voted unanimously to make available to military veterans residing in the village the Alternative Veterans Tax exemption, that will allow those who served in the military during an armed conflict such as World War II, the Korean War, Vietnam War, or the Persion Gulf War or who received an expeditionary medal for deployment to a foreign region during a campaign or conflict, eligible to receive a reduction in their village tax bills. The average savings to veterans will be about $100 per year. The Village had chosen in 1985 not to grant the exemption when the New York State law was originally passed. 147 residents, the mayor said, will benefit, saving them collectively a total of about $15,000 which will be spread out among the other village ratepayers, resulting in a very small increase of 0.14% in their tax bills.
“This is a good thing,” said veteran and Sea Cliff resident Phil Como, explaining that he had spoken to veterans who "appreciate the recognition."
"This is an honorarium for those of us who served," he continued, "not a windfall.”
Mr. Como added that this exemption is an improvement over the Veteran Eligible Funds exemption which he described as “arcane.”
That exemption, which reduces the assessed value of a property that a veteran purchased with "eligible funds" (typically up to a maximum of $5,000) that the veteran received upon discharge from active duty, will still be in place. Under New York state law, if a taxing jurisdiction has adopted the Alternative Veterans' Exemption, veterans receiving the Eligible Funds Exemption may continue to receive the Eligible Funds Exemption or convert to the Alternative Veterans' Exemption. Information for converting is available on the New York State Department of taxation website. Click Here.
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