This bill has been amended

Bill S3303-2013

Increases the amount of the real property tax alternative exemption for veterans

Increases the real property tax exemption for certain veterans using alternative exemption; exemption increased from $12,000 to $15,000; additional exemption for combat veterans increased from $8,000 to $10,000; increases disabled veteran exemption from $40,000 to $50,000.

Details

Actions

  • Jan 8, 2014: REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • Jun 4, 2013: REPORTED AND COMMITTED TO FINANCE
  • Jan 31, 2013: REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

Votes

VOTE: COMMITTEE VOTE: - Veterans, Homeland Security and Military Affairs - Jun 4, 2013
Ayes (11): Ball, Carlucci, Flanagan, Golden, Griffo, Grisanti, Zeldin, Addabbo, Avella, Sanders, Tkaczyk
Ayes W/R (2): Larkin, Gipson

Memo

BILL NUMBER:S3303

TITLE OF BILL: An act to amend the real property tax law, in relation to the veteran's alternative exemption

PURPOSE: This legislation would ensure veterans benefit from the veterans' alternative exemption notwithstanding an increase in property value.

SUMMARY OF PROVISIONS:

Section one of this measure amends paragraphs (a), (b), (c) and (d) of section 458-a, subdivision 2 of the Real Property Tax law.

JUSTIFICATION: The "new" veterans' exemption, enacted by chapter 525 of the laws of 1984, provided wartime, combat zone and disabled veterans with 15%, 10% and 50% of disability rating exemptions, respectively. These exemptions are also subject to maximums of $12,000, $8,000 and $40,000 respectively. A formula utilizing the equalization rate ensures that veterans living in assessing units that assess at different percentages of full value receive similar exemptions. When enacted, the maximum value of a residence eligible for a full exemption was $80,000. Veterans whose residences exceeded this value saw the value of their exemption decline.

This bill accounts for the fact that property values have increased significantly since 1984. Veterans should not see the value of their exemptions diminish due to factors beyond their control, such as escalating housing prices. This bill accounts for inflation and adjusts veterans' exemptions accordingly. A provision is also included permitting municipalities to maintain veterans' exemptions at present levels should an increase be unwarranted.

LEGISLATIVE HISTORY:

S.6441 of 2001/2002 S.3027 of 2003/2004 S.4358 of 2005/2006 S.710 of 2007/2008 S.3275 of 2009/2010 S.3214 of 2011/2012

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: This act shall take effect immediately and shall apply to taxes levied on assessment rolls completed on and after July 1, 2002.


Text

STATE OF NEW YORK ________________________________________________________________________ 3303 2013-2014 Regular Sessions IN SENATE January 31, 2013 ___________
Introduced by Sen. NOZZOLIO -- 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: Section 1. Paragraphs (a), (b), (c) and (d) 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, paragraph (c) as amended by chapter 100 of the laws of 1988, paragraph (d) as added by chapter 525 of the laws of 1984, and subparagraph (ii) of paragraph (d) as amended by chapter 256 of the laws of 2005 and as further amended by section 1 of part W of charter 56 of the laws of 2010, 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] FIFTEEN thousand dollars or the product of [twelve] FIFTEEN 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] TEN thousand dollars or the product of [eight]
TEN thousand dollars multiplied by the latest state equalization rate for the assessing unit, or in the case of a special assessing unit, the class ratio, whichever is less. (c) In addition to the exemptions provided by paragraphs (a) and (b) of this subdivision, where the veteran received a compensation rating from the United States veteran's administration or from the United States department of defense because of a service connected disability, qualifying residential real property shall be exempt from taxation to the extent of the product of the assessed value of such property multi- plied by fifty percent of the veteran's disability rating; provided, however, that such exemption shall not exceed [forty] FIFTY thousand dollars or the product of [forty] FIFTY 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. For purposes of this paragraph, where a person who served in the active military, naval or air service during a period of war died in service of a service connected disability, such person shall be deemed to have been assigned a compensation rating of one hundred percent. (d) Limitations. (i) The exemption from taxation provided by this subdivision shall be applicable to county, city, town and village taxa- tion, but shall not be applicable to taxes levied for school purposes. (ii) Each county, city, town or village may adopt a local law to reduce the maximum exemption allowable in paragraphs (a), (b) and (c) of this subdivision to TWELVE THOUSAND DOLLARS, EIGHT THOUSAND DOLLARS AND FORTY THOUSAND DOLLARS, RESPECTIVELY OR nine thousand dollars, six thou- sand dollars and thirty thousand dollars, respectively, or six thousand dollars, four thousand dollars and twenty thousand dollars, respective- ly. Each county, city, town, or village is also authorized to adopt a local law to increase the maximum exemption allowable in paragraphs (a), (b) and (c) of this subdivision to fifteen thousand dollars, ten thou- sand dollars and fifty thousand dollars, respectively; eighteen thousand dollars, twelve thousand dollars and sixty thousand dollars, respective- ly; twenty-one thousand dollars, fourteen thousand dollars, and seventy thousand dollars, respectively; twenty-four thousand dollars, sixteen thousand dollars, and eighty thousand dollars, respectively; twenty-sev- en thousand dollars, eighteen thousand dollars, and ninety thousand dollars, respectively; thirty thousand dollars, twenty thousand dollars, and one hundred thousand dollars, respectively; thirty-three thousand dollars, twenty-two thousand dollars, and one hundred ten thousand dollars, respectively; thirty-six thousand dollars, twenty-four thousand dollars, and one hundred twenty thousand dollars, respectively. In addi- tion, a county, city, town or village which is a "high-appreciation municipality" as defined in this subparagraph is authorized to adopt a local law to increase the maximum exemption allowable in paragraphs (a), (b) and (c) of this subdivision to thirty-nine thousand dollars, twen- ty-six thousand dollars, and one hundred thirty thousand dollars, respectively; forty-two thousand dollars, twenty-eight thousand dollars, and one hundred forty thousand dollars, respectively; forty-five thou- sand dollars, thirty thousand dollars and one hundred fifty thousand dollars, respectively; forty-eight thousand dollars, thirty-two thousand dollars and one hundred sixty thousand dollars, respectively; fifty-one thousand dollars, thirty-four thousand dollars and one hundred seventy thousand dollars, respectively; fifty-four thousand dollars, thirty-six thousand dollars and one hundred eighty thousand dollars, respectively. For purposes of this subparagraph, a "high-appreciation municipality" means: (A) a special assessing unit that is a city, (B) a county for
which the commissioner has established a sales price differential factor for purposes of the STAR exemption authorized by section four hundred twenty-five of this title in three consecutive years, and (C) a city, town or village which is wholly or partly located within such a county. S 2. This act shall take effect immediately and shall apply to taxes levied on assessment rolls completed on and after July 1, 2002.

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