Assembly Bill A5493

2011-2012 Legislative Session

Removes a cap on allowable real property tax exemptions available to certain veterans

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A5493 (ACTIVE) - Details

See Senate Version of this Bill:
S3446
Current Committee:
Assembly Veterans
Law Section:
Real Property Tax Law
Laws Affected:
Amd §458-a, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A341, S237
2013-2014: A2393, S2278
2015-2016: A156, S333

2011-A5493 (ACTIVE) - Summary

Removes caps on allowable real property tax exemptions available to several categories of military veterans.

2011-A5493 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 3446                                                  A. 5493

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                            February 22, 2011
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed,  and  when  printed  to be committed to the Committee on Veterans,
  Homeland Security and Military Affairs

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

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:

  Section  1.    Paragraphs (a), (b) and (c) of subdivision 2 of section
458-a of the real property tax law, paragraph (a) as amended by  chapter
899  of the laws of 1985, paragraph (b) as amended by chapter 473 of the
laws of 2004 and paragraph (c) as amended by chapter 100 of the laws  of
1988, are amended to read as follows:
  (a) Qualifying residential real property shall be exempt from taxation
to the extent of fifteen percent of the assessed value of such property;
provided,  however, that such exemption shall not exceed twelve thousand
dollars [or the product of twelve thousand  dollars  multiplied  by  the
latest state equalization rate for the assessing unit, or in the case of
a special assessing unit, the latest class ratio, whichever is less].
  (b)  In  addition  to  the exemption provided by paragraph (a) of this
subdivision, where the veteran served in a combat theatre or combat zone
of operations, as documented by the award of a  United  States  campaign
ribbon  or  service medal, or the armed forces expeditionary medal, navy
expeditionary medal, marine corps expeditionary medal, or global war  on
terrorism expeditionary medal, qualifying residential real property also
shall  be  exempt  from  taxation  to  the  extent of ten percent of the
assessed value of such property; provided, however, that such  exemption
shall  not  exceed eight thousand dollars [or the product of eight thou-
sand dollars multiplied by the latest state equalization  rate  for  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03757-01-1
              

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