JAIME’S REAL ESTATE BRIEF Maximizing Your VA Benefits: Property Tax Breaks & Homeownership Programs on Long Island

with Jaime Hechtman Ulloa

Jaime@PatriotRealProperties.com • 631.664.0268

Owning a home is one of the most powerful ways to build long-term stability, and for veterans, the combination of VA benefits plus property tax exemptions can make a meaningful difference. But many veterans don’t realize the full scope of what’s available here on Long Island. Let’s walk through what you should know…for Nassau or Suffolk County veterans.

What Veteran Property Tax Exemptions Are Available?

New York State offers several property tax exemptions for qualified veterans under Real Property Tax Law (RPTL) Section 458-a and 458-b. These include:

-Alternative Veterans’ Exemption: For veterans who served during wartime or received expeditionary medals.

-Cold War Veterans’ Exemption: For veterans who served during the Cold War period.

-Eligible Funds Exemption: For property purchased with certain veteran pension or bonus funds.

In Nassau County, eligible veterans may receive an exemption of up to 15% of the assessed value of their primary residence, and an additional 10% if they served in a combat zone.  In some cases, a disabled veteran may receive an additional exemption based on their service-connected disability rating.

In Suffolk County, veterans also qualify for eligible property tax exemptions. The county veteran services agency lists “Veteran’s Property Tax Exemptions” among its key offerings.

STAR & Other Homeowner Benefits

Aside from veteran-specific exemptions, there are broader homeowner benefits that many veterans can tap into:

-STAR (School Tax Relief) program: Offers either a credit or exemption to homeowners who use the property as a primary residence.

-Senior citizen exemptions, energy/housing assistance programs, and local municipal hardship programs may also apply for eligible veterans.

Realistic Savings on Long Island

Here’s how the savings can add up for a veteran homeowner:

-Let’s say you own a home assessed at $600,000. If your town offers the full 15% exemption for veterans (as is typical in many Nassau jurisdictions), that’s $90,000 off your assessed value before tax rates apply. (600,000 x 0.15 = 90,000)

-If your combined local tax rate (town + county + school portion) is, for example, $25 per $1,000 assessed value, that exemption could translate into roughly $2,250 saved in property taxes for the year.

-On top of that, if you qualify for STAR or other relief programs, you might save several hundred more annually.

-Over a decade, these savings can amount to tens of thousands of dollars….money you can reinvest, save, or use toward your next home.

Of course, actual savings vary depending on your town’s tax rate, the assessment, how fully your municipality participates in the exemptions, and whether your district elects to apply the exemption to school taxes.

Why This Matters for Veterans & Their Families

-Greater affordability: Reduced annual tax bills help veterans manage expenses and keep more of their income free for mortgage payments, renovations, or savings.

-Stronger home-ownership: With lower overhead, homeowners are more likely to stay, maintain the property, and build equity.

-Community anchor: Veterans owning homes contribute to stable neighborhoods, and reducing turnover builds stronger local ties.

-Better investment potential: When your cost of ownership is lower, your return on investment can be higher. That matters when you’re looking at the long game.

How I Help Veterans at Patriot Real Properties

As a local real estate professional committed to serving veterans, I do more than simply list properties….I help you see the full picture:

• I review which exemptions apply in your exact town or school district.

• I estimate tax-savings for homes you’re considering to help you compare real net costs.

• I guide you through the VA loan process, point out veteran-specific mortgage programs, and connect you with local veteran service agencies and tax assessors.

• I ensure you understand all the ownership-cost factors, not just purchase price ⇒ but taxes, association fees, maintenance, and long-term value.

If you’re a veteran or represent a veteran, and you’re thinking about buying, selling, or simply reviewing your family’s housing options on Long Island…I’d be honored to help. Let’s connect, analyze your options, and make sure you get not only a home, but a smart investment in your next chapter.

Jaime@PatriotRealProperties.com 

631.664.0268