Above: Ulster County executive Mike Hein signing five new property tax exemptions into law. Photo courtesy of the Office of the Ulster County Executive.
On Monday, July 9, Ulster County executive Mike Hein signed five new property tax exemptions into law. The new exemptions will mean tax breaks for first-time homebuyers, veterans, seniors, and disabled people in Ulster County.
Under the new exemptions, first-time homebuyers will receive a 50 percent county property tax exemption in the first year after their home purchase, and decreasing exemptions for the first five years. Greater numbers of senior citizens, and the disabled will now qualify for exemptions, because the county has raised the maximum income limit for the tax exemptions for these groups. Also, the exemptions available to veterans have been increased to 15 percent, the maximum allowed under state law.
A press release from the Office of the Ulster County Executive: