Bill Text: NY A00074 | 2023-2024 | General Assembly | Amended


Bill Title: Provides additional tax exemptions on qualifying residential real property where two or more qualified veterans live in the same household.

Spectrum: Bipartisan Bill

Status: (Introduced) 2024-05-07 - reported referred to ways and means [A00074 Detail]

Download: New_York-2023-A00074-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          74--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                       (Prefiled)

                                     January 4, 2023
                                       ___________

        Introduced  by M. of A. SAYEGH, THIELE, TAGUE, LEMONDES, DURSO, HYNDMAN,
          JACKSON, SILLITTI -- read once and referred to the Committee  on  Real
          Property  Taxation  --  committee  discharged,  bill  amended, ordered
          reprinted as amended and recommitted to said committee

        AN ACT to amend the real property tax law, in relation  to  granting  an
          additional tax exemption for two qualified veterans living in the same
          household

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraphs (a) and (b) of subdivision 2 of section 458-a of
     2  the real property tax law, paragraph (a) as amended by  chapter  899  of
     3  the laws of 1985 and paragraph (b) as amended by chapter 473 of the laws
     4  of 2004, are amended to read as follows:
     5    (a)  (i)  Qualifying  residential  real  property shall be exempt from
     6  taxation to the extent of fifteen percent of the assessed value of  such
     7  property; provided, however, that such exemption shall not exceed twelve
     8  thousand dollars or the product of twelve thousand dollars multiplied by
     9  the  latest  state  equalization  rate for the assessing unit, or in the
    10  case of a special assessing unit, the latest class ratio,  whichever  is
    11  less.
    12    (ii) In addition to the exemption provided by subparagraph (i) of this
    13  paragraph,  where  more than one veteran, qualifying under this section,
    14  lives in  the same household, qualifying residential real property  also
    15  may  be  exempt  from taxation to the extent of up to seven and one-half
    16  percent of the assessed value of such property; provided, however,  that
    17  such  additional  exemption shall not exceed six thousand dollars or the
    18  product of six thousand dollars multiplied by the latest state equaliza-
    19  tion rate for the assessing unit, or in the case of a special  assessing
    20  unit,  the  latest  class  ratio,  whichever  is less, provided that the
    21  governing body of a city, village, town, school district, fire  district

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01774-02-3

        A. 74--A                            2

     1  or  county, after   a public  hearing, adopts  a local law, ordinance or
     2  resolution providing therefore.  The governing body  of  the  applicable
     3  city,  village,  town,  school  district,  fire district or county shall
     4  determine  the percentage of exemption provided for in this subparagraph
     5  within such local law, ordinance,  or  resolution,  provided  that  such
     6  exemption  shall  not  exceed six thousand dollars or the product of six
     7  thousand dollars multiplied by the latest state  equalization  rate  for
     8  the  assessing  unit,  or  in the case of a special  assessing unit, the
     9  latest class ratio, whichever is less.
    10    (b) (i) In addition to the exemption provided by paragraph (a) of this
    11  subdivision, where the veteran served in a combat theatre or combat zone
    12  of operations, as documented by the award of a  United  States  campaign
    13  ribbon  or  service medal, or the armed forces expeditionary medal, navy
    14  expeditionary medal, marine corps expeditionary medal, or global war  on
    15  terrorism expeditionary medal, qualifying residential real property also
    16  shall  be  exempt  from  taxation  to  the  extent of ten percent of the
    17  assessed value of such property; provided, however, that such  exemption
    18  shall not exceed eight thousand dollars or the product of eight thousand
    19  dollars multiplied by the latest state equalization rate for the assess-
    20  ing  unit,  or in the case of a special assessing unit, the class ratio,
    21  whichever is less.
    22    (ii) In addition to the exemption provided by paragraph  (a)  of  this
    23  subdivision and the exemption provided by subparagraph (i) of this para-
    24  graph,  where  more  than  one veteran, qualifying under this paragraph,
    25  lives in the same household, qualifying residential real  property  also
    26  may  be  exempt from taxation to the extent of up to five percent of the
    27  assessed value of such property; provided, however, that such additional
    28  exemption shall not exceed four thousand dollars or the product of  four
    29  thousand  dollars  multiplied  by the latest state equalization rate for
    30  the assessing unit, or in the case of  a  special  assessing  unit,  the
    31  latest  class  ratio, whichever is less provided that the governing body
    32  of a city, village, town, school  district,  fire  district  or  county,
    33  after   a public  hearing,  adopts  a local law, ordinance or resolution
    34  providing therefore.    The  governing  body  of  the  applicable  city,
    35  village,  town, school district, fire district or county shall determine
    36  the percentage of exemption provided for  in  this  subparagraph  within
    37  such  local  law, ordinance, or resolution, provided that such exemption
    38  shall not exceed four thousand dollars or the product of  four  thousand
    39  dollars multiplied by the latest state equalization rate for the assess-
    40  ing  unit, or in the case of a special  assessing unit, the latest class
    41  ratio, whichever is less.
    42    § 2. This act shall take effect on the first of January next  succeed-
    43  ing the date on which it shall have become a law.
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