East Greenbush Central School District’s Board of Education approved a new tax exemption for veterans and modified the current Cold War Veterans’ Exemption to remove its 10-year limitation at a public meeting on Wednesday evening.
The new tax exemption is the Eligible Funds Veterans’ Exemption. It allows veterans who purchased their home with eligible funds (e.g., proceeds from a veteran’s pension, insurance, POW compensation) to reduce the assessed value of their primary residence before the tax rate is applied.
The Board of Education also adopted a resolution to provide its Cold War Veterans’ Exemption beyond the original 10-year limitation that had been approved last year.
Both exemptions were unanimously approved by the Board members in attendance and will be available for the 2018-19 school tax year.
Residents were invited to comment on the tax exemption agenda items prior to the Board’s discussion and subsequent vote.
Learn more about the district’s tax exemptions.