Bill Text: NY A04296 | 2013-2014 | General Assembly | Amended

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Bill Title: Increases the real property tax exemption for certain veterans using alternative exemption; exemption increased from $12,000 to $15,000; 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 26-1)

Status: (Introduced - Dead) 2014-05-13 - held for consideration in real property taxation [A04296 Detail]

Download: New_York-2013-A04296-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        4296--A
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 1, 2013
                                      ___________
       Introduced  by  M.  of A. RAIA, KOLB, SALADINO, MALLIOTAKIS, RA, CURRAN,
         BLANKENBUSH, BORELLI, GRAF, LALOR -- Multi-Sponsored by --  M.  of  A.
         BARCLAY,  BUTLER, CERETTO, CORWIN, DUPREY, FINCH, FITZPATRICK, GIGLIO,
         HAWLEY, JOHNS,  McDONOUGH,  McKEVITT,  OAKS,  STEC,  TEDISCO,  TENNEY,
         THIELE  --  read  once  and referred to the Committee on Real Property
         Taxation -- recommitted to the Committee on Real Property Taxation  in
         accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
         amended, ordered reprinted as amended and recommitted to said  commit-
         tee
       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
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01446-03-4
       A. 4296--A                          2
    1  shall be exempt from taxation to  the  extent  of  ten  percent  of  the
    2  assessed  value of such property; provided, however, that such exemption
    3  shall not exceed [eight] TEN thousand dollars or the product of  [eight]
    4  TEN  thousand  dollars  multiplied by the latest state equalization rate
    5  for the assessing unit, or in the case of a special assessing unit,  the
    6  class ratio, whichever is less.
    7    (c)  In  addition to the exemptions provided by paragraphs (a) and (b)
    8  of this subdivision, where the veteran received  a  compensation  rating
    9  from  the  United  States  veteran's  administration  or from the United
   10  States department of defense because of a service connected  disability,
   11  qualifying  residential  real  property shall be exempt from taxation to
   12  the extent of the product of the assessed value of such property  multi-
   13  plied  by  fifty  percent  of the veteran's disability rating; provided,
   14  however, that such exemption shall not  exceed  [forty]  FIFTY  thousand
   15  dollars  or  the product of [forty] FIFTY thousand dollars multiplied by
   16  the latest state equalization rate for the assessing  unit,  or  in  the
   17  case  of  a special assessing unit, the latest class ratio, whichever is
   18  less. For purposes of this paragraph, where a person who served  in  the
   19  active  military,  naval  or  air service during a period of war died in
   20  service of a service connected disability, such person shall  be  deemed
   21  to have been assigned a compensation rating of one hundred percent.
   22    S  2.  This act shall take effect immediately and shall apply to taxes
   23  levied on assessment rolls completed on and after July 1, 2002.