SENATOR BALL PASSES BILL TO ALLOW VETERANS TO KEEP PROPERTY TAX CREDIT IF THEY MOVE WITHIN THE SAME COUNTY
Albany, N.Y. – 03/06/2014 – Senator Greg Ball (R, C, I – Patterson), Chairman of the New York State Senate Committee on Veterans, Homeland Security and Military Affairs, has passed a piece of legislation (S2652) in the New York State Senate that would ensure that veterans that are already receiving property tax exemptions will continue to receive exemptions if they move within the same county.
Currently, veterans living in New York State are entitled to a tax exemption on their primary home. Unfortunately though, this exemption is not transferable unless the veteran moves within the locality he or she currently resides. Like most other residents, many veterans may choose to, or need to, move into a new home at least once in their lives. Due to the unnecessarily specific nature of the current law, veterans moving out of one home and into another home will lose the modest tax exemptions they have earned if their new home is in a different city, town or village.
“This is a very simple piece of legislation that would change the overly specific law to allow our veterans, that move within the same county, to continue to receive these property tax exemptions they so rightfully deserve,” said Senator Greg Ball. “This is a measure that the Senate has now twice passed. I am hopeful that the Assembly will follow our lead and pass this measure this legislative session.”
Currently, a veteran already receiving a property tax exemption can sell the property receiving the exemption and purchase property within the same city, town, or village and have the exemption transferred and prorated for the remainder of the fiscal year. This legislation would amend the law, replacing “city, town, or village” with “county, or in the case of a city having a population of one million or more persons, within the same city”.
The bill has been sent to the Assembly.
For more information, please contact email@example.com or (845) 531-9796