Wednesday, February 15, 2012

Adinolfi Proposes Changes To Veterans Property Tax Exemptions

Republican State Representative Al Adinolfi said Wednesday that is introducing legislation to increase property tax breaks for veterans.

Adinolfi, who is from Cheshire and serves the 103rd District, said his plan calls for using a sliding scale to assess the property tax exemptions. The scale would include a veteran's disability rating if applicable.

The current veterans’ exemptions have not been adjusted since the end of World War II, Adinolfi said. The law provides for a basic flat rate exemption that varies depending on the extent to which a veteran is disabled.


Adinolfi’s plan calls for using this scale:

·     A property tax exemption for 10 percent of the value of the property for veterans who served during time of war.

·     A property tax exemption of 15 percent if the veteran has a disability rating of 10 percent to 15 percent.  

·     A property tax exemption of 20 percent if the veteran has a disability rating of  between 25 percent and 50 percent.  

·     A property tax exemption of  25 percent if the veteran has a disability rating of 50 percent to 75 percent  

·     A property tax exemption of 30 percent if the veteran has a disability rating of 75 percent to 100 percent.  


“This proposal is the least we can do for those brave man and woman in the armed forces who served our country," said Adinolfi, who is the Ranking Member on the Select Committee on Veterans’ Affairs. "Veterans, especially aging veterans, deserve a chance to stay in the homes they raised their families,”  
  

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