Bill Text: NY S06385 | 2015-2016 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to real property tax exemptions available to veterans.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2016-04-08 - SIGNED CHAP.22 [S06385 Detail]

Download: New_York-2015-S06385-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6385
                    IN SENATE
                                     January 8, 2016
                                       ___________
        Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT to amend the real property tax law,  in  relation  to  exemptions
          available to veterans
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subparagraph (iii) of paragraph (c)  of  subdivision  2  of
     2  section 458-b of the real property tax law, as amended by chapter 381 of
     3  the laws of 2015, is amended to read as follows:
     4    (iii)  The  exemption  provided  by  paragraph (a) of this subdivision
     5  shall be granted for a period of ten years. The commencement of such ten
     6  year period shall be governed pursuant to  this  subparagraph.  Where  a
     7  qualified  owner owns qualifying residential real property on the effec-
     8  tive date of the local law providing for such exemption, such  ten  year
     9  period  shall  be measured from the assessment roll prepared pursuant to
    10  the first taxable status date occurring on or after the  effective  date
    11  of  the  local law providing for such exemption. Where a qualified owner
    12  does not own qualifying residential real property on the effective  date
    13  of  the  local  law  providing  for such exemption, such ten year period
    14  shall be measured from the assessment  roll  prepared  pursuant  to  the
    15  first  taxable  status date occurring at least sixty days after the date
    16  of purchase of qualifying residential real property; provided,  however,
    17  that  should  the  veteran  apply for and be granted an exemption on the
    18  assessment roll prepared pursuant to a  taxable  status  date  occurring
    19  within sixty days after the date of purchase of residential real proper-
    20  ty,  such  ten  year  period shall be measured from the first assessment
    21  roll in which the exemption occurs. If, before the  expiration  of  such
    22  ten  year  period,  such exempt property is sold and replaced with other
    23  residential real property, such exemption may  be  granted  pursuant  to
    24  this  subdivision  for  the  unexpired portion of the ten year exemption
    25  period. Each county, city, town or village may  adopt  a  local  law  to
    26  reduce the maximum exemption allowable in paragraphs (a) and (b) of this
    27  subdivision  to  six  thousand dollars, nine thousand dollars and thirty
    28  thousand dollars, respectively, or four thousand dollars,  six  thousand
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08164-04-6