Provides an additional exemption from real property taxes levied for school purposes to qualifying residential property owned by veterans.
TITLE OF BILL: An act to amend the real property tax law, in relation to an additional exemption for veterans from property tax levied for school purposes
PURPOSE OR GENERAL IDEA OF BILL: To provide an additional exemption from real property taxes levied for school purposes to qualifying residential property owned by veterans.
SUMMARY OF SPECIFIC PROVISIONS: Section one of the bill establishes the amendment of subparagraph (i) of paragraph (d) of subdivision 2 of §458-a of the Real Property Tax Law, as added by Chapter 525 of the Laws of 1984.
Section two establishes the effective date.
JUSTIFICATION: The men and women in our armed forces have made many sacrifices over the years as they have been called upon to defend our nation, and fight for American policy throughout the globe. This bill is an effort to recognize the willing sacrifices that these soldiers and sailors and their families have made and provide a way for local communities to express their gratitude. For our communities on Long Island, military families are experiencing the pressures of our high cost of living. With one or more members of a family serving, the ability to make ends meet can be severely strained. This bill is intended to relieve some of that pressure and alleviate the economic hardship due to their service to our country.
PRIOR LEGISLATIVE HISTORY: 2007-08: Senate Veterans, Homeland Security & Military Affairs Committee 2010: S.2603 Advanced to Third Reading
FISCAL IMPLICATIONS: To be determined.
EFFECTIVE DATE: This act shall take effect immediately and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after such date.
STATE OF NEW YORK ________________________________________________________________________ 4169 2011-2012 Regular Sessions IN SENATE March 22, 2011 ___________Introduced by Sen. FLANAGAN -- 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 an additional exemption for veterans from property tax levied for school purposes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (i) of paragraph (d) of subdivision 2 of section 458-a of the real property tax law, as added by chapter 525 of the laws of 1984, is amended to read as follows: (i) The exemption from taxation provided by this subdivision shall be applicable to county, city, town and village taxation,
[but shall not be applicable to]AND taxes levied for school purposes. THE EXEMPTION FROM TAXATION PROVIDED BY THIS SUBDIVISION APPLICABLE TO TAXES LEVIED FOR SCHOOL PURPOSES SHALL BE CALCULATED SUBSEQUENT TO AND IN ADDITION TO ANY OTHER EXEMPTION AUTHORIZED BY LAW FOR QUALIFYING RESIDENTIAL PROPERTY. S 2. This act shall take effect immediately and shall apply to assess- ment rolls prepared on the basis of taxable status dates occurring on or after such date.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09790-01-1