Bill Text: NY A03872 | 2023-2024 | General Assembly | Amended

New York Assembly Bill 3872

Bill Title: Authorizes the town of Southampton, county of Suffolk, to enact by local law a homestead exemption; provides that such exemption shall not exceed $50,000 in full assessed value.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-06-06 - substituted by s2094a [A03872 Detail]

Download: New_York-2023-A03872-Amended.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                         3872--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 8, 2023
                                       ___________

        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on  Real  Property  Taxation  --  recommitted to the Committee on Real
          Property Taxation in accordance  with  Assembly  Rule  3,  sec.  2  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee

        AN ACT authorizing the town of Southampton, county of Suffolk, to  enact
          by a local law a homestead exemption

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

     1    Section 1. Notwithstanding any provision of law to the  contrary,  the
     2  town  of  Southampton,  county of Suffolk may enact by local law a home-
     3  stead exemption from real property taxation as provided  herein.  Eligi-
     4  bility  for  such homestead exemption shall be the same as for the basic
     5  school tax relief (STAR) exemption pursuant to subdivision 3 of  section
     6  425 of the real property tax law. The exemption shall be uniform for all
     7  eligible  real  property  and  shall not exceed $50,000 in full assessed
     8  value.
     9    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04835-02-4