Bill Text: NY A03379 | 2015-2016 | General Assembly | Amended

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Bill Title: Authorizes school districts to grant the Cold War veterans' real property tax exemption.

Spectrum: Slight Partisan Bill (Democrat 5-3)

Status: (Passed) 2016-08-19 - signed chap.253 [A03379 Detail]

Download: New_York-2015-A03379-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         3379--A
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                    January 22, 2015
                                       ___________
        Introduced  by M. of A. CUSICK, SKOUFIS, THIELE, MILLER, CURRAN, COLTON,
          BRABENEC -- read once and  referred  to  the  Committee  on  Veterans'
          Affairs  -- ordered to a third reading -- recommitted to the Committee
          on Veterans' Affairs in accordance with Assembly Rule  3,  sec.  2  --
          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  authorizing
          school districts to grant an exemption to Cold War veterans
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (a) of subdivision 2 of section 458-b of the real
     2  property tax law, as amended by chapter 235 of  the  laws  of  2009,  is
     3  amended to read as follows:
     4    (a) Each county, city, town or village may adopt a local law, and each
     5  school district may adopt a resolution, to provide that qualifying resi-
     6  dential  real  property  shall  be exempt from taxation to the extent of
     7  either: (i) ten percent of the assessed value of such property; provided
     8  however, that such exemption shall not exceed eight thousand dollars  or
     9  the  product  of  eight  thousand dollars multiplied by the latest state
    10  equalization rate of the assessing unit, or, in the case  of  a  special
    11  assessing  unit,  the  latest  class  ratio,  whichever is less or; (ii)
    12  fifteen percent of the assessed value of such property; provided  howev-
    13  er,  that such exemption shall not exceed twelve thousand dollars or the
    14  product of twelve thousand dollars multiplied by the latest state equal-
    15  ization rate for the assessing unit,  or,  in  the  case  of  a  special
    16  assessing unit, the latest class ratio, whichever is less.
    17    §  2. Subparagraphs (i) and (iii) of paragraph (c) of subdivision 2 of
    18  section 458-b of the real property tax law, subparagraph (i) as  amended
    19  by  chapter 235 of the laws of 2009 and subparagraph (iii) as amended by
    20  chapter 381 of the laws of 2015, are amended to read as follows:
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03109-03-6