Bill Text: NY S04302 | 2021-2022 | General Assembly | Introduced

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Bill Title: Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS [S04302 Detail]

Download: New_York-2021-S04302-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4302

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 3, 2021
                                       ___________

        Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Veterans, Homeland Securi-
          ty and Military Affairs

        AN ACT to amend the real property tax law, in relation to real  property
          tax exemptions for combat veterans

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

     1    Section 1. Paragraph (b) of subdivision 2 of section 458-a of the real
     2  property tax law, as amended by chapter 473 of  the  laws  of  2004,  is
     3  amended to read as follows:
     4    (b)  In  addition  to  the exemption provided by paragraph (a) of this
     5  subdivision, where the veteran served in a combat theatre or combat zone
     6  of operations, as documented by the award of a  United  States  campaign
     7  ribbon  or  service medal, or the armed forces expeditionary medal, navy
     8  expeditionary medal, marine corps expeditionary medal, or global war  on
     9  terrorism expeditionary medal, qualifying residential real property also
    10  shall be exempt from taxation to the extent of [ten] thirty-five percent
    11  of  the  assessed  value  of such property; provided, however, that such
    12  exemption shall not exceed [eight] forty thousand dollars or the product
    13  of [eight] forty thousand dollars multiplied by the latest state  equal-
    14  ization rate for the assessing unit, or in the case of a special assess-
    15  ing unit, the class ratio, whichever is less.
    16    § 2. This act shall take effect immediately and shall apply to assess-
    17  ment rolls prepared on or after January 1, 2022.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05904-01-1