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Southampton to discuss vets’ tax breaks

The Southampton Town Board will hold a public hearing later this month on increasing the property tax exemption for Cold War veterans.

The State Legislature recently increased the limit of assessed value that can be exempt from a private home for any veteran with one year of active duty from $12,000 to $54,000; for those with a service-connected disability, the limit increased from $54,000 up to $180,000.

The new maximum exemption is for those who served during the Cold War period from Sept. 2, 1945, to Dec. 26, 1991. Other exemptions, for those who served during wartime, are already in place by state and local law.

Towns must pass local laws to reflect the state legislation.

The hearing will take place at 6 p.m. during the town board’s regular meeting on Jan. 24, in Town Hall.
 

Tags: Southampton , tax , town , board , veterans , exemptions

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