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New bill offers tax breaks for military personnel

Albany, N.Y. -- A new bill has passed the New York State Senate that will let local governments offer property tax exemptions to active duty military and eligible reservists, Senator Patrick Gallivan announced Monday.

Each city, town, village and county will have to adopt a new law in order to offer the tax exemption.

"Military personnel who are serving our country are sacrificing so much. Many of them and their families face an added financial burden when they are called to serve. This legislation would allow communities in which they live to express their gratitude by providing a real property tax exemption for the time they are on active duty," Senator Gallivan said in a statement.

When military personnel take advantage of the exemption, the property can only be the person's primary residence, and will only apply to a person called to active duty by the President of the United States.

While reservists are included in the exemption, the person must hold active duty status for 90 consecutive days.

 
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