Governor Andrew M. Cuomo today signed legislation to allow New York City to extend the alternative veterans' tax exemption to school taxes.
"Our veterans answered the call to protect the freedoms that this state and this nation were founded upon and this exemption is just one small way to thank them for their service," Governor Cuomo said. "I'm proud to sign this measure and close the loophole that denied New York City veterans the opportunity to receive the same benefit as their peers in every other part of the state."
In 2013, the Governor signed legislation to allow school districts across the state to provide the alternative veterans’ exemption against school taxes. However, since the City of New York does not have a school board, there was no mechanism to grant this relief to veterans in the five boroughs.
This legislation (A.9688 / S.7121) reforms this inequity and allows the New York City Council to pass a local law to extend the alternative veterans’ tax exemption to school taxes.
Assemblyman Michael Cusick said, "Our veterans have made incredible sacrifices for us and we owe them a tremendous debt of gratitude. The law being signed today clarifies my existing legislation passed in 2013 to allow the New York City Council to grant a property tax exemption to tens of thousands of veterans residing in the five boroughs, providing them and their families with significant savings each year. Many other localities throughout New York State have already implemented this measure, and I implore the New York City Council to follow in their footsteps and act on this legislation immediately. Thank you to Governor Cuomo & Senator Lanza for their partnership in this effort, and I look forward to working with my colleagues in the City Council on bringing well-earned tax relief to our Veteran homeowners."
Senator Andrew J. Lanza said, "This law grants qualified veterans in NYC, upon approval of the City Council an exemption on their school taxes. It is only fitting that we show our commitment to military veterans who have sacrificed so much to protect our freedom. As the proud sponsor of this bill, I think it is important that we demonstrate our unwavering commitment to honor and properly recognize our veterans' service to America."
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