Bill S3355-2013

Provides additional tax exemptions for two qualified veterans living in the same household

Provides additional tax exemptions on qualifying residential real property where two or more qualified veterans live in the same household.

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  • Jan 8, 2014: REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • Feb 1, 2013: REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

Memo

BILL NUMBER:S3355

TITLE OF BILL: 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

PURPOSE: To allow for an additional real property tax exemption when two qualified veterans reside in the same household for the alternative veterans' exemptions.

EXISTING LAW: RPT law Section 458a subsection 2a provides a real property exemption for veterans up to 15% of the assessed value of such property, provided, that such exemption shall not exceed $12,000 or the product of twelve thousand dollars multiplied by the latest state equalization rate.

RPT law section 458a subsection 2b provides an additional exemption of up to 10% of qualifying residential real property for veterans who served in a combat theatre or combat zone of operations, provided, however, that such exemption shall not exceed $8000 or the product of eight thousand dollars multiplied by the latest state equalization rate for the assessing unit.

JUSTIFICATION: By enlisting as a member of the armed forces a person chooses to place themselves in harms way to protect our country and our freedoms. With the United States' ongoing involvement in Iraq and Afghanistan a soldier's enlistment means there is a significant chance of deployment. When a soldier is deployed there is a financial burden placed on the families they leave behind. This is a debt that their families may endure for years to come.

New York State recognizes and rewards the soldiers who enlist and serve during a time of war by granting them an Alternative Veterans real property tax exemption. The Alternative Veterans Exemption is available only for residential property of veterans who served during wartime or received an expeditionary medal. This provides for an exemption of 15% of the assessed value to veterans who served during wartime and an additional 10% to those who served in a combat zone. Each county must "optin" to grant this alternative exemption.

However, if two qualified veterans reside in the same household the exemption does not change or increase. This legislation will allow for an increase of the Alternative Veterans exemption for a household with two qualifying veterans. The new language provides for an addition of half of the current percentages allowed. Therefore, a household with two veterans who served during wartime would receive an exemption up to 22.5% of the assessed value of the property and additional 15% if both veterans served in a combat zone. Each county must still opt in to grant this alternative exemption. This legislation will Properly recognize and reward all veterans who have served their country and who own property in New York State.

LEGISLATIVE HISTORY: 2009-10: S5370 Passed Senate 2007-08: S2840 Referred to Veterans, Homeland Security & Military Affairs 2005-06: S7241 Referred to Veterans, Homeland Security & Military Affairs

FISCAL IMPLICATIONS: None to the state.

EFFECTIVE DATE: The first of January succeeding the date in which it becomes law.


Text

STATE OF NEW YORK ________________________________________________________________________ 3355 2013-2014 Regular Sessions IN SENATE February 1, 2013 ___________
Introduced by Sen. HASSELL-THOMPSON -- read twice and ordered printed, and when printed to be committed to the Committee on Veterans, Home- land 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: Section 1. Paragraphs (a) and (b) 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 and paragraph (b) as amended by chapter 473 of the laws of 2004, are amended to read as follows: (a) (I) 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. (II) IN ADDITION TO THE EXEMPTION PROVIDED BY SUBPARAGRAPH (I) OF THIS PARAGRAPH, WHERE MORE THAN ONE VETERAN, QUALIFYING UNDER THIS SECTION, LIVES IN THE SAME HOUSEHOLD, QUALIFYING RESIDENTIAL REAL PROPERTY ALSO SHALL BE EXEMPT FROM TAXATION TO THE EXTENT OF SEVEN AND ONE-HALF PERCENT OF THE ASSESSED VALUE OF SUCH PROPERTY; PROVIDED, HOWEVER, THAT SUCH ADDITIONAL EXEMPTION SHALL NOT EXCEED SIX THOUSAND DOLLARS OR THE PRODUCT OF SIX THOUSAND DOLLARS MULTIPLIED BY THE LATEST STATE EQUALIZA- TION RATE FOR THE ASSESSING UNIT, OR IN THE CASE OF A SPECIAL ASSESSING UNIT, THE LATEST CLASS RATIO, WHICHEVER IS LESS. (b) (I) 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 thousand dollars multiplied by the latest state equalization rate for the assess- ing unit, or in the case of a special assessing unit, the class ratio, whichever is less. (II) IN ADDITION TO THE EXEMPTION PROVIDED BY PARAGRAPH (A) OF THIS SUBDIVISION AND THE EXEMPTION PROVIDED BY SUBPARAGRAPH (I) OF THIS PARA- GRAPH, WHERE MORE THAN ONE VETERAN, QUALIFYING UNDER THIS PARAGRAPH, LIVES IN THE SAME HOUSEHOLD, QUALIFYING RESIDENTIAL REAL PROPERTY ALSO SHALL BE EXEMPT FROM TAXATION TO THE EXTENT OF FIVE PERCENT OF THE ASSESSED VALUE OF SUCH PROPERTY; PROVIDED, HOWEVER, THAT SUCH ADDITIONAL EXEMPTION SHALL NOT EXCEED FOUR THOUSAND DOLLARS OR THE PRODUCT OF FOUR 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. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law.

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