Veterans and their surviving spouses may be eligible for an exemption on local county, city, town, village, and/or school property taxes.
Additional deductions may apply for combat and disabled veterans.
In order to determine eligibility, a copy of the veteran’s separation papers/DD214 must be presented to the assessor. Every veteran homeowner is urged to contact their local assessor to determine the exemptions for which they qualify and to ensure that they are properly applied to their property's assessment.
Erie County has increased the tax caps for veterans from $18k / $12k / $60k to $30k / $20k / $100k and is set to take place in 2024
The three categories of property tax exemptions available in New York State are:
Alternative Veterans Exemptions
Alternative Veterans Exemptions are available only on residential property of a veteran who has served during a designated time of war, or who has received an expeditionary medal.
Percentage-level benefits are subject to maximum dollar limits set by each taxing jurisdiction.
- 15% reduction in assessed value to veterans who served during a time of war.
- Additional 10% reduction in assessed value to veterans serving in combat zones (includes recipients of expeditionary medals).
- Additional reduction in assessed value to veterans who incur service-connected disabilities, equal to one-half of their service-connected disability ratings.
Cold War Veterans Exemption
The Cold War Veterans Exemption is available only on residential property of a veteran who served during the Cold War period.
Percentage-level benefits are subject to maximum dollar limits set by each taxing jurisdiction.
- Veterans may receive a 10% or 15% reduction in assessed value (as adopted by the taxing jurisdiction).
- Additional reduction is available to veterans who incur a service-connected disability, equal to one-half of the service-connected disability rating.
Eligible Funds Veterans Exemption
The Eligible Funds Veterans Exemption reduces the property’s assessed value to the extent that eligible funds were used in the purchase, generally up to a maximum of $7,500.
Partial exemption from real property taxation for property purchased with the proceeds of a veteran’s pension, bonus or insurance monies, or dividends or refunds on such insurance.
Likewise, partial exemption from real property taxation if the property was purchased with compensation paid to prisoners of war, mustering-out pay, etc.