Certain veterans and their spouses are eligible for loans from the U.S. Department of Veteran Affairs. The guarantee often reduces or eliminates the need for a downpayment.
Many New York State municipalities have the option to grant a property tax exemption for veterans. The property tax exemption is 15% of the assessed value for veterans who serviced during wartime, and an additional 10% exemption for those who serviced in a combat zone. Disabled veterans can be provided with an additional exemption. Check with your local city or town assessor to determine the maximum exemption limits.
Applying for Your NYS Veterans Tax Exemptions on property taxes
Eligible homeowners of New York State can receive a tax credit on their municipality’s school tax. The credit is called School Tax Relief (STAR). You must own your home and it must be your primary residence. Homeowners 65 or older may be eligible for the Enhanced STAR. Some New York State School Districts may offer up to 15% reduction in school taxes. Check with your local assessor to determine your eligibility.
Register for NYS School Tax Relief (STAR) credit on school taxes