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New law stands to give Cold War veterans tax break

The Albany County Democratic Majority introduced a new law that could give Cold War veterans a break on their property tax, according to a written statement from the Albany County Majority's office.

If enacted, the law would give a partial exemption to nearly 5,000 Albany residents, if they applied for the exemption, by tax bills based on the 2009 assessment rolls, Majority Leader Frank J. Commisso said.

Veterans who served with the United States Armed Forces between September 2, 1945, and December 26, 1991 would be eligible under legislation to receive an exemption of 15 percent of the assessed value of their primary residence up to the first $12,000, multiplied by the latest state equalization rate for the assessing unit, according to the written statement.

A public hearing is scheduled for 7:15 p.m. in the Legislative Chambers at the Albany County Courthouse on Tuesday, July 29.

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