Get Ny Rp-458-a-i 2024-2025

VA Disability Compensation benefits are available to veterans with service-connected illnesses or disabilities. These VA disability benefits include Dependency and Indemnity Compensation (DIC), Special Monthly Compensation (SMC), and general disability pay, which is a tax-free monetary payment.

The Veterans Exemption helps veterans and their family members reduce their property taxes. To be eligible, the property must be your primary residence and you must be: A veteran who served during one of the Qualified Service periods of war or conflict. The spouse of a qualified veteran.

NYS Real Property Tax Law section 458-a provides an alternative exemption from real property taxation for qualified residential real property owned by veterans of defined periods of war, veterans who received expeditionary medals, or certain members of their family based on a percentage of assessed value.

The alternative veterans exemption is applicable to county, city, town, village and school taxes, but not to special district levies or special assessments. In general, a qualifying wartime veteran's property receives an exemption of 15% of its assessed value.

Exemption. The Disability/Limited Income Property Tax Exemption provides a property tax reduction of up to 50% of school, county, and town taxes for residential property owners who have a documented physical or mental impairment that substantially limits their ability to engage in one or more major life activities.

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.

The amounts and types of other residential exemptions vary widely, and may cover property owned by senior citizens, veterans, volunteer firefighters and other classes of individuals. Source: NYS Tax and Finance; includes all local government and school district exemptions.