|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|
|Feb 22, 2011||referred to veterans, homeland security and military affairs|
senate Bill S3446
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3446 - Details
S3446 - Summary
Removes caps on allowable real property tax exemptions available to several categories of military veterans.
S3446 - Sponsor Memo
BILL NUMBER:S3446 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.
S3446 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 3446 A. 5493 2011-2012 Regular Sessions S E N A T E - A S S E M B L Y February 22, 2011 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Veterans, Homeland Security and Military Affairs IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Veterans' Affairs AN ACT to amend the real property tax law, in relation to exemptions available to veterans 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 thousand dollars [or the product of twelve 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 thousand dollars [or the product of eight thou- sand dollars multiplied by the latest state equalization rate for the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03757-01-1
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