|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 06, 2012||reported and committed to finance|
|Jan 04, 2012||referred to veterans, homeland security and military affairs|
|Jun 07, 2011||reported and committed to finance|
|Feb 11, 2011||referred to veterans, homeland security and military affairs|
senate Bill S3214
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3214 - Details
S3214 - Summary
Increases the real property tax exemption for certain veterans using alternative exemption; exemption increased from $12,000 to $15,000; additional exemption for combat veterans increased from $8,000 to $10,000; increases disabled veteran exemption from $40,000 to $50,000.
S3214 - Sponsor Memo
BILL NUMBER:S3214 TITLE OF BILL: An act to amend the real property tax law, in relation to the veteran's alternative exemption PURPOSE: This legislation would ensure veterans benefit from the veterans' alternative exemption notwithstanding an increase in property value. SUMMARY OF PROVISIONS: Section one of this measure amends paragraphs (a), (b), (c) and (d) of section 458-a, subdivision 2 of the Real Property Tax law. JUSTIFICATION: The "new" veterans' exemption, enacted by chapter 525 of the laws of 1984, provided wartime, combat zone and disabled veterans with 15%, 10% and 50% of disability rating exemptions, respectively. These exemptions are also subject to maximums of $12,000, $8,000 and $40,000 respectively. A formula utilizing the equalization rate ensures that veterans living in assessing units that assess at different percentages of full value receive similar exemptions. When enacted, the maximum value of a residence eligible for a full exemption was $80,000. Veterans whose residences exceeded this value saw the value of their exemption decline.
S3214 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3214 2011-2012 Regular Sessions I N S E N A T E February 11, 2011 ___________ Introduced by Sen. NOZZOLIO -- 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 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), (c) and (d) 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, paragraph (c) as amended by chapter 100 of the laws of 1988, paragraph (d) as added by chapter 525 of the laws of 1984, and subparagraph (ii) of paragraph (d) as amended by chapter 256 of the laws of 2005 and as further amended by section 1 of part W of charter 56 of the laws of 2010, 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] FIFTEEN thousand dollars or the product of [twelve] FIFTEEN 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. LBD00598-02-1
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