The Financial Impact to Veterans and Non-Veterans

BerneGuilderlandNew Scotland Parcels655112,203 Total Assessed Value$6,654,400$144,455,391$566,572,901 BerneGuilderlandNew Scotland ParcelsNA8120 Total Assessed ValueNA$10,835,400$28,761,624 Commercial Property in VCSD

 Levels of Exemption ◦ Wartime  A qualifying wartime veteran’s property receives an exemption of 15% of its assessed value ◦ Combat Zone  An additional 10% exemption is available where the veteran can document service in a combat zone ◦ Disability  For those that have been disabled, there is a third exemption, which is equal to one-half of the veteran’s disability rating (Definitions from the NYS Department of Taxation and Finance)

 Lowest Level ◦ $6,000 (wartime) – $10,000 (combat) - $20,000 (disabled) ◦ “Reduced Maximum Pursuant to Local Law” ◦ Used by Bethlehem and RCS  Medium Level ◦ $12,000 (wartime) – $20,000 (combat) - $40,000 (disabled) ◦ “State Law Basic Maximum” ◦ Used by Guilderland and BKW  Higher Level ◦ $27,000 (wartime) – $18,000 (combat) - $90,000 (disabled) ◦ The 5 th highest of the 11 options that are categorized as “Increased Maximums Pursuant to Local Law”

 The Town of New Scotland ◦ is comprised of six school districts  four have adopted the exemption  two have not (Greenville and VCSD) ◦ Of the 2,203 total residential parcels in the VCSD, 274 are eligible for the exemption

Lowest ($6,000 - $10,000 - $20,000) Medium ($12,000 - $20,000 - $40,000) Highest ($27,000 - $18,000 - $90,000) Amount of Exempt Property $2,457,010$4,788,450$7,349,360 Tax Levy to be Re- Distributed from Vets to Non-Vets $47,513$92,598$142,120 Savings to Vet - Wartime $116$172 - $232$172 - $522 Savings to Vet - Combat $193$387$348 Savings to Vet - Disabled $329 - $387$329 - $774$329 - $1,740 Non-Veteran Impact School Taxes (Based on assessed value of $250,000) Increase of 0.37% (1.03% – 0.66%) Increase of $18.17 Increase of 0.74% (1.40% – 0.66%) Increase of $35.53 Increase of 1.14% (1.80% %) Increase of $54.76 Non-Veteran Impact Library Taxes (Based on assessed value of $250,000) Increase of 0.37% (-0.56% – -0.93%) Increase of $1.21 Increase of 0.73% (-0.20% %) Increase of $2.37 Increase of 1.12% (0.19% %) Increase of $3.65

Lowest ($6,000 - $10,000 - $20,000) Medium ($12,000 - $20,000 - $40,000) Highest ($27,000 - $18,000 - $90,000) Amount of Exempt Property $781,186$1,491,571$2,211,696 Tax Levy to be Re- Distributed from Vets to Non-Vets $15,106$28,844$42,769 Savings to Vet - Wartime $116$232$242 - $522 Savings to Vet - Combat $193$387$348 Savings to Vet - Disabled $102 - $387$102 - $774$102 - $1,740 Non-Veteran Impact School Taxes (Based on assessed value of $250,000) Increase of 0.47% (3.41 – 2.94%) Increase of $24.78 Increase of 0.89% (3.83 – 2.94%) Increase of $47.51 Increase of 1.33% (4.27% %) Increase of $70.73 Non-Veteran Impact Library Taxes (Based on assessed value of $250,000) Increase of 0.46% (1.78% – 1.32%) Increase of $1.65 Increase of 0.88% (2.20% – 1.32%) Increase of $3.17 Increase of 1.32% (2.64% – 1.32%) Increase of $4.77

 Only six people qualify for the exemption and live in the VCSD

 Unknowns that affect the impact: ◦ The number of veterans who qualify for the Alternate Veterans Exemption may increase if the Board adopts the exemption ◦ The equalization rates could change in the future