Bill Text: NY A05578 | 2025-2026 | General Assembly | Introduced

New York Assembly Bill 5578

Introduced

Bill Title: Extends eligibility for real property tax exemptions to veterans who served on a submarine or on classified missions during a period of war as documented by military service records.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2025-02-18 - referred to veterans' affairs [A05578 Detail]

Download: New_York-2025-A05578-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          5578

                               2025-2026 Regular Sessions

                   IN ASSEMBLY

                                    February 18, 2025
                                       ___________

        Introduced by M. of A. HUNTER -- read once and referred to the Committee
          on Veterans' Affairs

        AN  ACT to amend the real property tax law, in relation to real property
          tax exemptions for 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, or where the veteran served on  a  subma-
    10  rine  or  on classified missions during a period of war as documented by
    11  military service records,  qualifying  residential  real  property  also
    12  shall  be  exempt  from  taxation  to  the  extent of ten percent of the
    13  assessed value of such property; provided, however, that such  exemption
    14  shall not exceed eight thousand dollars or the product of eight thousand
    15  dollars multiplied by the latest state equalization rate for the assess-
    16  ing  unit,  or in the case of a special assessing unit, the class ratio,
    17  whichever is less.
    18    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05448-01-5