| Governor Kathy Hochul signed the tax credit bill into law on Saturday. This bill had previously been passed by both the State Senate and Assembly earlier this year.
The signing took place in Long Island, with leadership from FASNY present, as well as representatives from the New York State Chiefs, New York State Fire Districts, and other member organizations with shared concerns.
The enactment of this law is the outcome of 20 years of effort by FASNY and others to bring this legislation forward.
The new law will increase the income tax credit for active volunteer firefighters from the current $200 to $800 for the 2027 tax year.
This change will provide benefits to all active volunteer firefighters, including those who rent their homes.
The prohibition on collecting both the 10% property tax exemption and the income tax credit remains in effect. Homeowners will need to determine whether the 10% property tax assessment reduction or the $800 income tax credit is more advantageous for them. If your spouse is also an active firefighter, each may claim the $800 credit.
Membership in organizations such as the Hudson Valley Volunteer Firefighters' Association and FASNY continues to support legislation aimed at benefiting the firefighter community. |
