Assemblyman Bill Reilich (R,C,I-Greece) announces that Governor Spitzer has signed into law legislation that provides real property tax exemptions for Cold War veterans.
“It is a privilege serving those who have sacrificed so much to serve our country during one of the most dangerous times in our history,” said Reilich. “The brave men and women who signed up to defend America did so knowing full well that an armed conflict could erupt at anytime. We owe them our thanks and any assistance they need to help keep their homes.”
Veterans eligible for the Cold War property tax exemption must have served on active duty for more than a year from Sept. 2, 1945 until December 26, 1991. This period covers the gap from the end of the Korean conflict until the beginning of Vietnam (1955-1961) and the end of Vietnam (1975) until 1991. It also covers those who served between the Grenada, Panama and Desert Storm conflicts at home or abroad.
Eligible Cold War veterans will receive a real property tax exemption between 10 or 15 percent of their home values not exceeding $8,000 or $12,000. The exemption is only to be used for real municipal property taxes, not school property taxes. Veterans currently receiving a veteran’s exemption (RPT 458 or 458A) are not eligible for the Cold War veteran’s exemption.
“I urge every municipality in my district and the state to adopt this real property tax exemption,” said Reilich. “It is the least we can do for Cold War veterans who so valiantly served our great nation.”