Lakeland To Hold Alternative Veterans' Exemption Public Hearing October 15

The Lakeland Central School District Board of Education will hold a public hearing to consider adoption of the Basic Alternative Veterans’ Exemption on October 15, 2015, at 7:30 PM in the cafeteria at Walter Panas High School.

The components of the Basic Exemption are:

•Basic: Tax exemption of 15% of the assessed value of property, up to $12,000;

•Combat Zone: For veterans who are documented to have served in a combat zone, an additional tax exemption of 10% of the assessed value of the property, up to $8,000;

•Disabled Veterans: For veterans with a service related disability rating from the Veterans’ Administration or the Department of Defense, an additional tax exemption equal to 50% of the disability rating, not to exceed $40,000.

Qualifying property must be the primary residence of the veteran or unremarried surviving spouse of the veteran, unless either is absent from the property for medical reasons or institutionalization.