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Board of Education Passes Motion to Extend Cold War Tax Exemption

(Jan. 17, 2017) The Ichabod Crane CSD Board of Education unanimously approved a motion to extend a tax exemption to veterans of the Cold War who primarily reside in the district. Governor Cuomo signed legislation in August which allows school districts the option to grant Cold War Veterans an exemption from school taxes. Cold War Veterans were already eligible to receive an exemption from town & county taxes and now this legislation allows the schools to grant it as well. The formal resolution will be on the agenda for the Feb. 7 Board of Education.

IC Business Manager reviewed the following information with the Board at its Jan. 10 meeting:

  • There are currently 38 Cold War Veteran Exemptions within the Ichabod Crane School District (this includes Disabled Cold War Veteran Exemptions). The total EXEMPT amount of these 36 exemptions is $473,862.

  • If it is the School District's intention to offer these exemptions on the 2017-2018 school tax roll then you will need to hold a public hearing and adopt a resolution prior to March 1, 2017. The exemption can either be adopted at a 10% level or a 15% level (RPTL458b 2(a)). Any resolutions adopted after 3/1/2017 will not be applied until the 2018-2019 school tax bill.

  • If Cold War Veterans are currently receiving an exemption on their town & county tax bill, there is no additional exemption form that they will need to fill out. Their initial exemption form filed at the Town Assessor's Office is all that the assessor will need if the school adopts a resolution to allow for the Cold War Veterans Exemption. If the Cold War Veteran does not currently receive an exemption on their town & county tax bill, then they will need to apply for it with the assessor by March 1st.

Summary for ICCSD residents

• 38 Exemptions (36 Columbia, 2 Rensselaer)
• Value = $473,862
• 16-17 District Assessment = $1,224,460,883
• Decrease of Assessment = $473,862
• New Assessment = $1,223,987,021
• Change in Assessment = .04%
• This on average would cost Non Vet approximately $1.50 - $3.00 per bill.