Business · 1 min read
NYC council plans property tax breaks for disabled veterans
Council Speaker Julie Menin says the new bill will pass Thursday. It raises exemptions up to $72,000 for qualifying properties.
The New York City Council will pass legislation this week exempting thousands of disabled veterans from paying property taxes on their primary homes, Council Speaker Julie Menin said Wednesday. The bill increases the city current property tax break for disabled veterans. That break is capped at $9,600 for family homes with up to three units.
It is capped at $72,000 for all other property types. The measure has 29 sponsors. That is enough to pass the 51 member council when Menin puts it up for a floor vote Thursday, according to Bloomberg Tax.
Reported and written by MYB News.
Figures as reported by Bloomberg Tax.
