Yorktown Adopts Increase in Veterans’ Property Exemption Benefit
The Yorktown Town Board recently approved an expanded property tax benefit for military veterans.
The amendment to the local Alternative Veterans Exemption and Cold War Veterans Exemption affects the following maximum property exemptions:
∙ Non-Combat Veteran exemptions will increase from $1,204 to $1,590, or 15% of the assessment, whichever is less.
∙ Combat Veteran exemptions will increase from $803 to $1,060, or the lesser of 10% of the assessment, not to exceed an exemption amount of $1,060.
∙ Disabled Veterans amounts will increase from $4,014 to $5,300. The exemption amount is calculated at 50% of the disability rating not to exceed $5,300.
These changes apply to all existing veterans exemptions beginning with the 2022 Assessment Roll for 2023 taxes.
“The Town Board recognizes our veterans’ sacrifices and service. This increase in the tax benefit is our community’s way of expressing gratitude to those who protected our freedoms,” said Supervisor Matt Slater.
“I’m thankful to our veterans for their efforts and this is a small gesture we are making to express our gratitude,” said Councilman Tom Diana.
The legal title to the residential property must be in the name of the veteran, a spouse, or an un-remarried surviving spouse.
“Our veterans have protected our most cherished freedoms, and for that I thank them by supporting this increased benefit,” said Councilman Ed Lachterman.
Yorktown’s increased benefit does not apply to school district or special district taxes.
“I appreciate the work our veterans have done to protect our country and I support this benefit,” said Councilman Vishnu Patel.
“The liberty we enjoy daily is a direct result of the sacrifices our veterans have made. That’s an enormous debt that we all must repay with gestures like these,” said Councilwoman Alice Roker.
For Veterans who currently have the Veterans exemption, there is no action needed.
New owners looking to apply for the Veterans exemption may contact the Town of Yorktown Assessors office at 914-962-5722 x 227.
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