IAVA Backs Property Tax Exemption for NY Veterans
Posted by Michelle McCarthy on April 12
On April 11th, IAVA was proud to stand with New York City Council Speaker Christine Quinn and state and city leadership as they introduced new legislation to reform property tax exemptions for New York veterans. The Veterans Property Tax Exemption is designed to ensure New York City veterans have the support and tools to become successful homeowners.
The new legislation will stabilize property tax rates for veterans by tying home and property taxes to home values rather than how much the City spends on schools. As part of the City’s continued support of new veterans, the tax break will rise as housing prices increase. The change is expected to impact tens of thousands of veterans in the five boroughs. In Fiscal 2012, more than 64,000 veterans qualified for tax exemptions.
Speaker Quinn explained why the City decided to break the link between property taxes and education: “The value of a veteran’s exemption goes down when City spending on Education goes up. So, the more we fund schools, the less veterans get... Veterans are the protectors of the American Dream, and it is our duty to help them obtain their American Dreams, too.” When veterans come home from war they have a vision of what’s to come: a good education, a great job, and a home to call their own. The changes to the tax exemption will help put the last part of that dream within reach for many New York veterans. Read more about the proposed legislation here.
In just the last year, IAVA has connected hundreds of veterans with employers through innovative career fairs, helped over 10,000 veterans go to college on the New GI Bill, and provided mental health support to over 50,000 veterans—all at no cost to Member Veterans. Programs like these are only made possible through your generous support. Fight for those who fought for us and help us keep these resources and benefits completely free for new veterans and their families. DONATE >>
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