Posted by An eleventh-hour decision by Gov. David Paterson extends the ability of counties and municipalities to increase property tax exemptions for veterans, and adds those who live in owner-occupied co-op units.
“This law will give a different ratio and would be calculated according to whatever the assessed value of the co-op is,” said Westchester County Legislator Vito Pinto, D-Eastchester.
“It is my belief that all veterans who give their time to our country, both in times of war and times of peace, are at risk for harm and should be afforded equal treatment and benefits,” said Assemblywoman Amy Paulin, who sponsored the legislation.
Paterson received the bill July 13 and had 10 days to sign or veto it. He approved it Thursday. Westchester County and Eastchester, Tuckahoe and Scarsdale have said they will take advantage of the legislation, as they have in the past.
In August 2007, then-Gov. Eliot Spitzer signed into law a real property tax exemption of up to 15 percent for those who served in the armed forces between Sept. 2, 1945, and Dec. 26, 1991.
It was then up to each county and town to enact the property tax break based on a formula developed by the state.
