Assembly Bill A2124

Signed By Governor
2013-2014 Legislative Session

Increases the veteran's real property tax exemption from $5000 to $7500

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • 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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2013-A2124 (ACTIVE) - Details

See Senate Version of this Bill:
S592
Law Section:
Real Property Tax Law
Laws Affected:
Amd §458, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3531
2011-2012: A4878, S2536

2013-A2124 (ACTIVE) - Summary

Increases the real property tax exemption a veteran may receive on real property purchased with eligible funds from $5,000 to $7,500 of the assessed value of such property.

2013-A2124 (ACTIVE) - Bill Text download pdf

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

                                  2124

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by M. of A. SIMOTAS, MONTESANO, COLTON, MILLER, MALLIOTAKIS,
  HOOPER -- Multi-Sponsored by -- M. of A. PALMESANO, RAIA -- read  once
  and referred to the Committee on Veterans' Affairs

AN  ACT  to  amend  the real property tax law, in relation to increasing
  exemption for veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    Paragraph 2 of subdivision 1 of section 458 of the real
property tax law, as amended by chapter 488 of  the  laws  of  1998,  is
amended to read as follows:
  (2)  Except  as  provided in subdivision five of this section, no such
exemption on account of eligible funds paid on account  of  military  or
naval  services  rendered by an individual shall be allowed in excess of
[five] SEVEN thousand FIVE HUNDRED dollars. For  the  purposes  of  this
subdivision any established exemption, or newly claimed exemption, or an
aggregate  thereof,  as  the  case  may be, in excess of any multiple of
fifty dollars shall be regarded as being the nearest multiple  of  fifty
dollars  and allowed in such amount. If the amount of such exemption has
no nearest multiple of fifty dollars, it shall be regarded as being  the
next  higher  multiple  of fifty dollars and allowed in such amount. The
mingling of such eligible funds with other funds or their  retention  by
the United States for insurance premiums shall not bar the granting of a
claim for such exemption.
  S  2.  This act shall take effect on the first of July next succeeding
the date on which it shall have become a law.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01852-01-3


              

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