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Veterans Exemptions

Female retired veteran salutes in front of USA flag

Qualifying veterans and their family members are eligible for property tax breaks in New York City.


Alternative Veterans Tax Exemption

The Alternative Veterans tax exemption is available to eligible veterans of foreign wars, expeditionary medalists, veterans with honorable discharges, spouses/widow(er)s of veterans, and Gold Star parents.

The Form DD-214 is usually used to indicate discharge under honorable conditions. Click the link for a complete listing of Acceptable Military Records for Veterans Property Tax Exemption.

Veterans who have received a letter from the New York State Division of Veterans’ Services stating that they meet the character of discharge criteria for all of the benefits and services listed in the Restoration of Honor Act may submit a copy of the letter.

Eligible Funds Exemption

The Eligible Funds exemption is for veterans who bought homes using "eligible funds," including pensions, bonuses, insurance, and mustering out pay. Both exemptions reduce the assessed value of the recipient’s property before taxes are assessed on it.

Thanks to changes in city and state law, the Alternative Veterans and Eligible Funds tax exemptions have been expanded and will now apply to school taxes. The typical single-family (tax class 1) home will save:



 Alternative Veterans Eligible Funds
Base benefit $329 $360
Estimated additional benefit
 $320 $251
Property tax savings in fiscal year 2018
 $649 $611

For more information, click here.

Requirements for Alternative Veterans Benefit:

  1. Applicants for the Alternative Veterans exemption must have served in one of the following conflicts:

    		From To
    Gulf War, Iraq and Afghanistan conflicts August 2, 1990 Present
    Vietnam War November 1, 1955 May 7, 1975
    Korean War June 27, 1950 January 31, 1955
    World War II December 7, 1941 December 31, 1946
    World War I April 6, 1917 November 11, 1918
  2. The property must be the primary residence of the owner who qualifies for the exemption.
  3. Applicants must submit the Form DD-214, separation papers, or if applicable, a letter from the New York State Division of Veterans’ Services stating the veteran now meets the character of discharge criteria for all of the benefits and services listed in the Restoration of Honor Act.

Exemption Rates for Alternative Veterans:

Eligibility  Reduction of property's assessed value Maximum exemption amount by tax class
Served during a
specified period of conflict
(listed above)		 15% Maximum of
$2,880 for Class 1;            
$21,600 for Classes 2 and 4
Served in a combat zone* Additional 10% Maximum of
$1,920 for Class 1;              
$14,400 for Classes 2 and 4
Disabled** Assessed value
multiplied by 50%
of the veteran’s
disability rating		 Maximum of
$9,600 for Class 1;
$72,000 for Classes 2 and 4

*Combat zone refers to a location of active combat, such as Vietnam during the Vietnam War.

** Veterans designated disabled by the Veterans’ Administration may be eligible for a disabled veteran exemption. Submit a copy of a letter from the VA indicating your disability rating. Your rating can be obtained by calling the VA at 1-800-827-1000.

Note: If you are currently receiving the Eligible Funds exemption, which does not require primary residency and wish to apply for the Alternative Veterans Exemption the property must be the veterans’ primary residence. If approved for the Alternative Veteran’s exemption, you will lose the Eligible Funds exemption permanently.

Applications

Apply online or download forms from the Property Tax Benefits for Homeowners page.

Other veterans exemption forms:

Veterans Exemption Deadlines

Your application must be submitted by March 15 for your exemption to begin on July 1 of the same year. For a paper application, call 311 or visit a Department of Finance assistance center.

Alternative Veterans exemption recipients who move mid-year to another property in NYC can receive a pro-rated exemption by completing a new application for the new property.

Visit the exemptions page to learn about other tax breaks for which you might qualify.

Need Help? Contact 311 or  Email Us.