NEW YORK—As a way of honoring New York City veterans on Memorial Day, City Council Speaker Christine Quinn announced proposed legislation that would reform New York City’s Veterans’ Property Tax Exemption.
Under current laws veterans must wait up to 16 months for their exemption benefits to kick in on July 1 if they move within the five boroughs and fill out their form after the March 15 deadline.
“The Veterans’ Property Tax Exemption is a valuable form of support we can give to those who have served the nation and made sacrifices to protect our freedom and way of life,” said Speaker Quinn in a statement. “I think we can all agree that we shouldn’t be punishing anyone simply because they move – we must fix this law.”
In fiscal year 2013 the benefit was $361 and served approximately 63,000 veterans.