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Home Improvement
Home (Capital) Improvement Exemption
  • The Capital Improvement Exemption is an eight-year exemption to encourage improvements to one, two, and three-family homes.
  • Homeowners who add on to existing structures are entitled to an exemption that starts at 100% of the assessed value of the new addition. The exemption phases out over eight years.
  • The exemption is subject to certain conditions set by state law. Since the conditions change from time to time, check with the Village Assessor’s office for up-to-date information.
  • Applications must be received in the Assessor’s office by October 1st. Applications received after October 1st will not be considered, even if they are postmarked prior to October 1st.

The percentage of the assessment increase that is exempt over the eight years is as follows:

First Year Exemption
Second Year Exemption
Third Year Exemption
Fourth Year Exemption
Fifth Year Exemption
Sixth Year Exemption
Seventh Year Exemption
Eighth Year Exemption
Ninth Year Exemption
100%
87.5%
75%
62.5%
50%
37.5%
25%
12.5%
0%


  • All exemptions are in amount of assessed value. To calculate the tax savings for an exemption:

     Exempt Assessed Value
    100        

    x Tax Rate = Tax Savings


  • A Village tax exemption does not apply to taxes based on the Nassau County Assessment Roll. You should also apply to the Nassau County Department of Assessment for any exemption offered by the County and applicable to your property. Deadlines and procedures may be different. Check with the Nassau County Department of Assessment at 516-571-1500 for additional information.