A bill sponsored by state Assemblyman Anthony D’Urso to eliminate the 10-year limit for real property tax exemptions for Cold War veterans was signed into law by Gov. Cuomo.
“These brave people served our country and they deserve to get this permanent exemption,” said D’Urso
The Cold War veteran is defined as someone who served from Sept. 2, 1945 to Dec. 26, 1991.
This exemption, which became law in 2007, provides for a real property tax exemption for Cold War veterans and permits each county, city, village to adopt a local law to provide the exemption for qualifying residential real property.
Under the current state statute the duration of the basic exemption was ten years.
The law applies to assessment rolls prepared on the basis of taxable status dates occurring on or after Jan. 1, 2018.
This law eliminates the ten-year sunset concerning the Cold War veterans exemption.