Instructions For Form Rp-458-A Application For Alternative Veterans Exemption From Real Property Taxation (Page 3 of 3) in pdf

RP-458-a-I (1/16) Page 3 of 3

residential real property. Attach a copy of the deed to your

status date for towns is January 2. Westchester County

application.

towns have either a May 1, or June 1 taxable status

date; contact the assessor. Taxable status date for most

Line 12 – NYS Real Property Tax Law section 458

villages which assess is January 1; however, the village

provides an exemption from real property taxation owned

clerk should be consulted to insure certainty. Charter

by veterans or other members of the eligible class which

provisions control in cities so inquiry should be made

is purchased with the proceeds of a veteran’s pension,

of city assessors for the taxable status dates in cities.

bonus or insurance (or dividends or refunds on such

In New York City, taxable status date is January 5,

insurance) or compensation paid to prisoners of war.

but applications for this exemption may be filed on

These moneys are called eligible funds and are paid by

or before March 15. At local option, where property

the United States or New York State in recognition of

receiving exemption pursuant to NYS Real Property

the veteran’s military service. This section provides an

Tax Law section 458-a is sold and the owner purchases

exemption from general municipal taxes, but not school

replacement property within the same city, town, or

taxes, special ad valorem levies or special assessments.

village, the former exemption may be transferred to the

Property is exempt to the extent that eligible funds are

new property and be granted on a pro rata basis for the

used in the purchase, generally not to exceed $7,500.

balance of the fiscal year. To continue the exemption

thereafter, a new application must be file on or before

In some municipalities, however, property may be

taxable status date.

eligible for an exemption in excess of the $7,500

limitation. If your property is receiving an eligible funds

Do not file the application with ORPTS.

exemption in a municipality which has changed from

fractional assessment to full value assessment, and if

that municipality timely adopted a local law preserving

the value of eligible funds exemption on a pro rata

basis, and that local law remains in effect, your eligible

funds exemption will increase or decrease as a result

of the change to full value assessment. Similarly, if your

municipality has opted to apply the change in level of

assessment factor to eligible funds exemptions, the

amount of exemption will increase or decrease when

such change occurs. For more information concerning the

eligible funds exemption and Form RP-458, contact your

assessor.

Where a municipality grants the Alternative Veterans’

Exemption, no new eligible funds exemption may

be granted thereafter. In a municipality granting the

alternative exemption, a veteran receiving an eligible

funds exemption on his/her primary residence can retain

that exemption, or may apply for the alternative exemption

by submitting a new application to the assessor.

If the veteran earlier converted from eligible funds to the

alternative exemption, and moves to a county, city, town

or village not granting the alternative exemptions, he/she

can again receive the eligible funds exemption. Similarly,

if a municipality which grants the alternative exemption

adopts a local law to allow veterans, who previously

received the eligible funds exemption but who switched

to the alternative exemption, to switch back to the eligible

funds exemption and receive the change in level of

assessment, veterans have one year from the date of

the local law to apply to switch back (get Form RP-458

from your assessor or the Tax Department’s Web site at

Filing the application

Application for exemption must be made to the local

assessors.

Where property is located in a village which assesses,

separate applications must be filed with both the village

and town assessors. The application must be filed on

or before taxable status date. Taxable status date for

most towns is March 1. In Nassau County, the taxable

Instructions For Form Rp-458-A Application For Alternative Veterans Exemption From Real Property Taxation Page 3

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