Bill Text: NY A05226 | 2019-2020 | General Assembly | Introduced
Bill Title: Increases the real property tax exemption for certain veterans using alternative exemption from $12,000 to $16,000; increases additional exemption for combat veterans from $8,000 to $10,000; increases disabled veteran exemption from $40,000 to $50,000.
Spectrum: Partisan Bill (Republican 24-1)
Status: (Introduced - Dead) 2020-01-06 - enacting clause stricken [A05226 Detail]
Download: New_York-2019-A05226-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 5226 2019-2020 Regular Sessions IN ASSEMBLY February 7, 2019 ___________ Introduced by M. of A. RAIA, KOLB, MALLIOTAKIS, RA, BLANKENBUSH, LALOR, CROUCH, FINCH, DiPIETRO, GIGLIO, MORINELLO -- Multi-Sponsored by -- M. of A. BARCLAY, FITZPATRICK, HAWLEY, JOHNS, McDONOUGH, STEC, THIELE -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to the veteran's alternative exemption The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraphs (a), (b), and (c) of subdivision 2 of section 2 458-a of the real property tax law, paragraph (a) as amended by chapter 3 899 of the laws of 1985, paragraph (b) as amended by chapter 473 of the 4 laws of 2004, and paragraph (c) as amended by chapter 100 of the laws of 5 1988, are amended to read as follows: 6 (a) Qualifying residential real property shall be exempt from taxation 7 to the extent of fifteen percent of the assessed value of such property; 8 provided, however, that such exemption shall not exceed [twelve] sixteen 9 thousand dollars or the product of [twelve] sixteen thousand dollars 10 multiplied by the latest state equalization rate for the assessing unit, 11 or in the case of a special assessing unit, the latest class ratio, 12 whichever is less. 13 (b) In addition to the exemption provided by paragraph (a) of this 14 subdivision, where the veteran served in a combat theatre or combat zone 15 of operations, as documented by the award of a United States campaign 16 ribbon or service medal, or the armed forces expeditionary medal, navy 17 expeditionary medal, marine corps expeditionary medal, or global war on 18 terrorism expeditionary medal, qualifying residential real property also 19 shall be exempt from taxation to the extent of ten percent of the 20 assessed value of such property; provided, however, that such exemption 21 shall not exceed [eight] ten thousand dollars or the product of [eight] 22 ten thousand dollars multiplied by the latest state equalization rate EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04838-02-9A. 5226 2 1 for the assessing unit, or in the case of a special assessing unit, the 2 class ratio, whichever is less. 3 (c) In addition to the exemptions provided by paragraphs (a) and (b) 4 of this subdivision, where the veteran received a compensation rating 5 from the United States veteran's administration or from the United 6 States department of defense because of a service connected disability, 7 qualifying residential real property shall be exempt from taxation to 8 the extent of the product of the assessed value of such property multi- 9 plied by fifty percent of the veteran's disability rating; provided, 10 however, that such exemption shall not exceed [forty] fifty thousand 11 dollars or the product of [forty] fifty thousand dollars multiplied by 12 the latest state equalization rate for the assessing unit, or in the 13 case of a special assessing unit, the latest class ratio, whichever is 14 less. For purposes of this paragraph, where a person who served in the 15 active military, naval or air service during a period of war died in 16 service of a service connected disability, such person shall be deemed 17 to have been assigned a compensation rating of one hundred percent. 18 § 2. This act shall take effect immediately and shall apply to taxes 19 levied on assessment rolls completed on and after the first of July next 20 succeeding the date on which it shall have become a law.