The Saratoga Springs City School District Board of Education voted to adopt a resolution for the Alternative Veterans’ Tax Exemption at Level C and the Cold War Veterans’ Tax Exemption at Level C at 10 percent at its Tuesday, Nov. 14, meeting. Both exemptions will go into effect for the 2018-19 school year budget.
The Alternative Veterans’ Exemption was established in 1984 for municipalities and the Cold War Exemption, in 2007. Beginning in 2014 (AVE) and in 2016 (CWE), school districts were given the option to adopt these exemptions, which would exempt a portion of an eligible veterans’ assessed property value from real property taxes. The exemptions are only available to veterans who served during a designated time of war, and only applicable to primary residential properties.
Under the Veterans’ Tax Exemptions, the tax levy (total amount of taxes) collected from all residents by the school district does not change, but rather causes a shift in taxes. Qualifying veterans applying for the exemptions would have their school taxes lowered, while non-qualifying taxpayers and those not applying for the exemption would experience an increase.
Prior to a decision, the Board of Education conducted an online survey and held a public hearing to gather feedback from school community members on the adoption of the Veterans’ Property Tax Exemptions. More information on qualifications and applications are available by contacting the city assessor’s office.