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January 22, 2017

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Property tax exemptions

Property tax exemption rates for the 2017-18 school year
To apply for any of the school tax relief programs listed below, residents should contact their town assessor’s office for more information. New applications are due by March 1, 2017 and will be effective with the next school tax bill.

Exemption for residents older than age 65 as well as for property owners with disabilities and limited income
Guilderland Central School District offers a property tax exemption for residents older than age 65 as well as for property owners with disabilities and limited income (continuation of existing policy).

Annual income Percentage of assessed valuation exempt from taxation
$29,000 or less 50%
More than $29,000 but less than $30,000 45%
$30,000 or more but less than $31,000 40%
$31,000 or more but less than $32,000 35%
$32,000 or more but less than $32,900 30%
$32,900 or more but less than $33,800 25%
$33,800 or more but less than $34,700 20%
$34,700 or more but less than $35,600 15%
$35,600 or more but less than $36,500 10%
$36,500 or more but less than $37,400 5%

 

Senior citizens’ exemption from taxation for school tax purposes shall be granted in the case of real property where a child resides if such child attends a public school of elementary or secondary education. The exemption follows the same sliding income scale as the regular senior citizens’ exemption along with age requirements.

School Tax Relief (STAR) exemption
New York State “enhanced” STAR (School Tax Relief Program) exemption for homeowners 65 years or older with combined gross spousal incomes of no more than $86,000 (based on 2015 income tax return). New York State “basic” STAR program for all homeowners of all ages and income levels.

Alternative Veterans Exemption
In 2014-15, Guilderland Central School District began offering the Alternative Veterans Exemption for eligible military veterans. School districts are allowed to offer up to a 15 percent reduction in assessed value for veterans who served during a time of war (up to a maximum of $12,000), plus 10 percent for those who served in combat zones (up to a maximum of $8,000). Veterans could also receive a reduction based on their service-connected disabilities (up to a maximum of $40,000). The town equalization rate will be applied to the exemption amount when computing tax bills. Learn more about the Alternative Veterans Exemption 

Town

Prior year
equalization rate
Wartime maximum:
$12,000
Combat maximum:
$20,000
Disabled maximum:
$40,000
Guilderland 88% $10,560 $17,600 $35,200
Bethlehem 100% $12,000 $20,000 $40,000
New Scotland 100% $12,000 $20,000 $40,000
Knox 62% $7,440 $12,400 $24,800

 

Veterans with already approved exemptions on file with their local municipality do not need to reapply for a school tax exemption. However, new exemption applications must be filed with the town assessor by March 1, 2017.





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