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RPTS outlines potential local impact of state veterans property‑tax exemption
Summary
Real Property Tax Services reported a revised state law allowing localities to adopt a full exemption for veterans rated 100% permanent and total by the VA; RPTS said 175 veterans currently receive exemptions on $38 million assessed value and will return with impact details for county, town and school assessments.
Real Property Tax Services Director V. Blancato briefed the Finance Committee on newly revised State legislation that permits municipalities to adopt a full property‑tax exemption for veterans with a 100% permanent and total VA disability rating. Blancato said 175 veterans currently receive exemptions covering about $38 million in assessed value, of which $14 million is currently exempt.
Blancato told the committee that adopting the local option would require passage of a local law and that RPTS will provide a future, more detailed analysis of the fiscal impact on county, town and school tax assessments. The minutes note that Veteran Services Director Solina joined the discussion; no vote was taken and the committee requested a follow‑up report.
