Veterans’ Tax Exemption
Monroe-Woodbury Central School District offers a partial tax exemption at the reduced local option exemption levels to qualifying veterans under a resolution passed on February 18, 2015, by the Monroe-Woodbury Board of Education.
The implementation of a tax exemption results in a redistribution of taxes among taxpayers, or a tax shift. Exemptions do not affect the total amount of money a district needs to raise – the tax levy. Therefore, if a town’s assessed value decreases due to exemptions, then all taxpayers would need to pay more to make up the difference. The tax rate per $1,000 of assessed value would increase for all taxpayers to generate the same amount of taxes (i.e., the tax levy).
The allowable exemption maximums, as adopted by M-W Board of Education, are as follows:
- Wartime exemption = $9,000 maximum
- Combat zone exemption = $6,000 maximum
- Disability exemption = $30,000 maximum
Please contact your local town assessor for questions about eligibility and applications.
For additional information, consult the NY Assessor’s Manual on veterans’ exemption.