S T A T E   O F   N E W   Y O R K
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                                  4818

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 6, 2015
                               ___________

Introduced  by  M.  of A. RAIA, KOLB, SALADINO, MALLIOTAKIS, RA, CURRAN,
  BLANKENBUSH, BORELLI, GRAF, LALOR, CROUCH, FINCH -- Multi-Sponsored by
  -- M. of A. BARCLAY, BUTLER,  CERETTO,  CORWIN,  DUPREY,  FITZPATRICK,
  GIGLIO,  HAWLEY,  JOHNS,  McDONOUGH,  McKEVITT,  OAKS,  STEC, TEDISCO,
  TENNEY, THIELE -- read once and referred  to  the  Committee  on  Real
  Property Taxation

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), and (c) 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, and paragraph (c) as amended by chapter 100 of the laws of
1988, 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] SIXTEEN
thousand dollars or the product of  [twelve]  SIXTEEN  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]

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07152-01-5
              

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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.
  S  2.  This act shall take effect immediately and shall apply to taxes
levied on assessment rolls completed on and after July 1, 2002.