Alternative exemption for veterans.

A Local Law to amend the administrative code of the city of New York, in relation to the alternative exemption for veterans

The Alternative Exemption for Veterans is a real property tax exemption available to veterans for their primary residences. It provides for a reduction in assessed value to veterans who served during a time of war, with additional reductions available to veterans who served in combat zones and disabled veterans. Currently, in New York City, the exemption is not applicable to the portion of real property taxes that are paid for school taxation and this legislation would extend the exemption to include those taxes.