The Mattituck-Cutchogue school board is expected to discuss a new tax exemption program for war veterans at Thursday’s regular meeting, according to the agenda.
The exemption law has been in effect statewide since the 1980s but has until now only been applied to the county and town’s portion of a veteran’s property tax bill. Last year, the state Legislature approved an amendment to expand the program to school districts, and Gov. Andrew Cuomo signed it into law in December.
Once a school district approves the new exemption, homeowners will have to make up the loss in revenue from the school district portion of property taxes.
The exemption benefits include a reduction of up to 15 percent in assessed value for veterans who served during a time of war and an additional 10 percent reduction in assessed value for veterans who served in combat zones, according to the legislation. Disabled veterans with war-related injuries are also eligible for additional tax reduction.
The Southold Town Assessor’s Office has recently estimated Mattituck has 683 veterans living within the district that could qualify for the program.
School officials have said the Board of Education didn’t have enough information to make a decision in time for the March 1 deadline. Southold and Shoreham-Wading River are the only local school districts to have adopted the exemption in time for the 2014-15 fiscal year.
In addition to discussing the tax exemption, the school board is expected to discuss fund balance projections and receive an update about the track project.
The meeting is scheduled for Thursday, March 20, at 7:30 p.m. in the high school.
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