senate Bill S2473

Amended

Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 17 / Jan / 2013
    • REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • 04 / Jun / 2013
    • REPORTED AND COMMITTED TO FINANCE
  • 08 / Jan / 2014
    • REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • 10 / Feb / 2014
    • AMEND AND RECOMMIT TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • 10 / Feb / 2014
    • PRINT NUMBER 2473A

Summary

Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent.

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Bill Details

See Assembly Version of this Bill:
A3878
Versions:
S2473
S2473A
Legislative Cycle:
2013-2014
Current Committee:
Senate Veterans, Homeland Security And Military Affairs
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง458-a, RPT L
Versions Introduced in Previous Legislative Cycles:
2011-2012: S5290A, A5277A
2009-2010: S3005, A8367

Votes

Sponsor Memo

BILL NUMBER:S2473 REVISED 1/29/13

TITLE OF BILL: An act to amend the real property tax law, in relation
to real property tax exemptions for combat veterans

PURPOSE: Increases the amount combat veterans shall be exempt from real
property taxation from 10% to 35%.

SUMMARY OF PROVISIONS:

Section one amends paragraph (b) of subdivision 2 of section 458-a of
the real property tax law.

Section two is the effective date.

JUSTIFICATION: Veterans who served in a combat zone protecting the
United States of America should see an increase in their property tax
exemption. Military personnel serving in combat zones are fighting to
protect our nations freedoms by putting their lives on the line every
day. To show New York's appreciation, this legislation would exempt up
to 351 (currently 101) of the assessed value on their real property for
combat zone soldiers. This measure would greatly benefit these brave
individuals who have served foreign land combat zones for extended peri-
ods of time away from their families. New York State residents who are
in the military and serve our country bravely, sacrifice their lives so
we may enjoy peace and prosperity as a nation and a state. They deserve
our respect and this bill shows our gratitude for their sacrifice as
they protect our country and our freedoms.

LEGISLATIVE HISTORY: 2012: S.5290 - Referred to Finance/A.5277 -
Referred to Veterans' Affair
2011: S.5290 - Referred to Finance/A.5277 - Referred to Veterans' Affair
2010: S.3005 - Referred to Veterans/A.8367 - Referred to Veterans'
Affairs
2009: S.3005 - Referred to Veterans/A.8367 - Referred to Veterans'
Affairs
2008: S.8769 - Referred to

FISCAL IMPLICATIONS: The Department of Taxation and Finance estimate
that this bill would result in a shifting of property taxes, from prop-
erties receiving the increased exemption to other properties, of approx-
imately $290 million per year.

EFFECTIVE DATE: This act shall take effect immediately and shall apply
to assessment rolls prepared on and after January 1, 2014.

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

                                  2473

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 17, 2013
                               ___________

Introduced  by  Sen.  LANZA  -- 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 real  property
  tax exemptions for combat veterans

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

  Section 1. Paragraph (b) of subdivision 2 of section 458-a of the real
property tax law, as amended by chapter 473 of  the  laws  of  2004,  is
amended to read as follows:
  (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] THIRTY-FIVE percent
of  the  assessed  value  of such property; provided, however, that such
exemption shall not exceed [eight] FORTY thousand dollars or the product
of [eight] FORTY thousand dollars multiplied by the latest state  equal-
ization rate for the assessing unit, or in the case of a special assess-
ing unit, the class ratio, whichever is less.
  S 2. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on or after January 1, 2014.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03930-01-3

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