senate Bill S237

2009-2010 Legislative Session

Removes a cap on allowable real property tax exemptions available to certain veterans

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


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

do you support this bill?

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2010 referred to veterans, homeland security and military affairs
Jan 07, 2009 referred to veterans, homeland security and military affairs

S237 - Bill Details

See Assembly Version of this Bill:
A341
Current Committee:
Senate Veterans, Homeland Security And Military Affairs
Law Section:
Real Property Tax Law

S237 - Bill Texts

view summary

view sponsor memo
BILL NUMBER: S237

TITLE OF BILL :

An act to amend the real property tax law, in relation to exemptions
available to veterans


PURPOSE :

Removes a cap on a allowable real property tax exemptions available to
certain veterans.

SUMMARY OF PROVISIONS :

Further amends paragraphs (a), (b) and (c) of Subdivision 2 of Section
458-a of the real property tax law by exempting qualifying residential
real property from taxation up to 15% of its assessed value, in
addition to which, when a veteran can show documentation that he
served in a combat zone, such property will also be exempt from
taxation up to 10% of its assessed value. In addition to the
aforementioned exemptions, paragraph (c) provides that when a veteran
is receiving a compensation because of a service related disability,
qualifying residential real property will be exempt from taxation
based on an established formula.

JUSTIFICATION :

Section 456-a of the NYS Real Property Tax Law allows a veteran to
receive an exemption of 15% for serving during a period of war and an
additional 10% for serving in a combat zone. These figures are
misleading, however, because they are keyed to a cap which uses the
latest state equalization rate. When this cap kicks in at a certain
market value, the exemption amount stays the same, despite the fact
that the assessment climbs. By removing the cap, the veterans would
receive the statutory 25%.

LEGISLATIVE HISTORY :

2007-08, S.141; 2005-06, S.3152.

FISCAL IMPLICATIONS :

EFFECTIVE DATE :
Immediately.
view full text
The Bill text is not available.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.