If you are an honorably-discharged American veteran, having served during a qualifying period of war, as specifically identified in the NYS Real Property Tax Law, you may be eligible for benefits under the Alternate Veterans' Exemption program. For those that served in a combat zone and/or were disabled as a result of their service, additional benefits accrue.
Calculation of veterans' exemption benefits is formulaic and is tied to home value "caps," as established by law, and the applicable annual municipal equalization rate (the calculated amount of assessed value exempt from taxation is not necessarily a straight 15% of the property's assessed value).
Proof of service/discharge (form DD214) must accompany a timely filing of an application by the May 1 filing deadline. This exemption requires the filing of a one-time only application (PDF)