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Recently Passed Legislation Allows for Tax Credit for Volunteer Firefighters and Ambulance Workers
Currently the Town of Philipstown has opted into the above exemption program for those fire and ambulance workers with at least five years of service to receive a real property tax exemption for Town, County and School purposes. The dollar amount, however, is minimal (currently amounting to an assessment reduction of 1,086 dollars and an actual tax amount savings of $42.37 for a homeowner in the Town outside villages.)
Recently passed legislation (Legislative Bill A.6799/S.3944 - signed into law on August 15, 2007) now allows, in lieu of this real property exemption, for an income tax credit on an individual's NYS income tax, which, in some cases, may be more beneficial for the fire or ambulance worker than the property tax reduction. This is something that each eligible fire or ambulance worker should be aware of and should check into when filing their tax returns and / or inquiries with their tax preparer.
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Philipstown and Putnam Valley, NY
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