STATE OF NEW YORK
________________________________________________________________________
3402
2021-2022 Regular Sessions
IN SENATE
January 29, 2021
___________
Introduced by Sens. BAILEY, BENJAMIN, BIAGGI, COMRIE, GIANARIS, HOYLMAN,
JACKSON, LIU, MYRIE, PARKER, RAMOS, RIVERA, SALAZAR, SANDERS, SEPULVE-
DA, SERRANO -- read twice and ordered printed, and when printed to be
committed to the Committee on Veterans, Homeland Security and Military
Affairs
AN ACT to amend the real property tax law, in relation to granting an
additional tax exemption for two qualified veterans living in the same
household
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraphs (a) and (b) of subdivision 2 of section 458-a of
2 the real property tax law, paragraph (a) as amended by chapter 899 of
3 the laws of 1985 and paragraph (b) as amended by chapter 473 of the laws
4 of 2004, are amended to read as follows:
5 (a) (i) Qualifying residential real property shall be exempt from
6 taxation to the extent of fifteen percent of the assessed value of such
7 property; provided, however, that such exemption shall not exceed twelve
8 thousand dollars or the product of twelve thousand dollars multiplied by
9 the latest state equalization rate for the assessing unit, or in the
10 case of a special assessing unit, the latest class ratio, whichever is
11 less.
12 (ii) In addition to the exemption provided by subparagraph (i) of this
13 paragraph, where more than one veteran, qualifying under this section,
14 lives in the same household, qualifying residential real property also
15 shall be exempt from taxation to the extent of seven and one-half
16 percent of the assessed value of such property; provided, however, that
17 such additional exemption shall not exceed six thousand dollars or the
18 product of six thousand dollars multiplied by the latest state equaliza-
19 tion rate for the assessing unit, or in the case of a special assessing
20 unit, the latest class ratio, whichever is less.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06822-01-1
S. 3402 2
1 (b) (i) In addition to the exemption provided by paragraph (a) of this
2 subdivision, where the veteran served in a combat theatre or combat zone
3 of operations, as documented by the award of a United States campaign
4 ribbon or service medal, or the armed forces expeditionary medal, navy
5 expeditionary medal, marine corps expeditionary medal, or global war on
6 terrorism expeditionary medal, qualifying residential real property also
7 shall be exempt from taxation to the extent of ten percent of the
8 assessed value of such property; provided, however, that such exemption
9 shall not exceed eight thousand dollars or the product of eight thousand
10 dollars multiplied by the latest state equalization rate for the assess-
11 ing unit, or in the case of a special assessing unit, the class ratio,
12 whichever is less.
13 (ii) In addition to the exemption provided by paragraph (a) of this
14 subdivision and the exemption provided by subparagraph (i) of this para-
15 graph, where more than one veteran, qualifying under this paragraph,
16 lives in the same household, qualifying residential real property also
17 shall be exempt from taxation to the extent of five percent of the
18 assessed value of such property; provided, however, that such additional
19 exemption shall not exceed four thousand dollars or the product of four
20 thousand dollars multiplied by the latest state equalization rate for
21 the assessing unit, or in the case of a special assessing unit, the
22 latest class ratio, whichever is less.
23 § 2. This act shall take effect on the first of January next succeed-
24 ing the date on which it shall have become a law.
