Increases the real property tax exemption for certain veterans using an alternative exemption from $12,000 to $15,000; increases the additional exemption for combat veterans from $8,000 to $10,000; increases the disabled veteran exemption from $40,000 to $50,000.
STATE OF NEW YORK
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2435
2017-2018 Regular Sessions
IN SENATE
January 13, 2017
___________
Introduced by Sen. HELMING -- 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 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] fifteen
9 thousand dollars or the product of [twelve] fifteen 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
23 for the assessing unit, or in the case of a special assessing unit, the
24 class ratio, whichever is less.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06924-02-7
S. 2435 2
1 (c) In addition to the exemptions provided by paragraphs (a) and (b)
2 of this subdivision, where the veteran received a compensation rating
3 from the United States veteran's administration or from the United
4 States department of defense because of a service connected disability,
5 qualifying residential real property shall be exempt from taxation to
6 the extent of the product of the assessed value of such property multi-
7 plied by fifty percent of the veteran's disability rating; provided,
8 however, that such exemption shall not exceed [forty] fifty thousand
9 dollars or the product of [forty] fifty thousand dollars multiplied by
10 the latest state equalization rate for the assessing unit, or in the
11 case of a special assessing unit, the latest class ratio, whichever is
12 less. For purposes of this paragraph, where a person who served in the
13 active military, naval or air service during a period of war died in
14 service of a service connected disability, such person shall be deemed
15 to have been assigned a compensation rating of one hundred percent.
16 § 2. This act shall take effect immediately and shall apply to taxes
17 levied on assessment rolls completed on and after July 1, 2002.
