NYS reminds veterans to take advantage of tax exemption benefits

NEW YORK – In the wake of Veteran's Day last Friday, Nov. 11, the New York State Department of Taxation and Finance has issued a reminder to veterans to take advantage of valuable year-round tax exemptions and credits available to them, their families, and employers.

Among the exemptions available to veterans are property tax burden reductions, including a 15 percent reduction for wartime veterans, and as much as 25 percent if the veteran served in a combat zone. Many local governments also offer veterans of the Cold War an exemption of up to 15 percent for people who served between 1945 and 1991. Each of these categories of exemption include an additional reduction of 50 percent if the veteran was disabled as a result of his or her military service.

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