Assembly Bill A8694

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

                                  8694

                          I N  A S S E M B L Y

                            February 3, 2014
                               ___________

Introduced by M. of A. CUSICK -- read once and referred to the Committee
  on Veterans' Affairs

AN  ACT  to  amend the real property tax law, in relation to authorizing
  school districts to grant an exemption to Cold War veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (a) of subdivision 2 of section 458-b of the real
property  tax  law,  as  amended  by chapter 235 of the laws of 2009, is
amended to read as follows:
  (a) Each county, city, town or village may adopt a local law, AND EACH
SCHOOL DISTRICT MAY ADOPT A RESOLUTION, to provide that qualifying resi-
dential real property shall be exempt from taxation  to  the  extent  of
either: (i) 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 thousand dollars multiplied  by  the  latest  state
equalization  rate  of  the assessing unit, or, in the case of a special
assessing unit, the latest class  ratio,  whichever  is  less  or;  (ii)
fifteen  percent of the assessed value of such property; provided howev-
er, that such exemption shall not exceed twelve thousand dollars or  the
product of twelve thousand dollars multiplied by the latest state equal-
ization  rate  for  the  assessing  unit,  or,  in the case of a special
assessing unit, the latest class ratio, whichever is less.
  S 2. Subparagraphs (i) and (iii) of paragraph (c) of subdivision 2  of
section 458-b of the real property tax law, as amended by chapter 235 of
the  laws  of 2009, subparagraph (iii) as further amended by subdivision
(b) of section 1 of part W of chapter  56  of  the  laws  of  2010,  are
amended to read as follows:
  (i)  The exemption from taxation provided by this subdivision shall be
applicable to county, city, town, [and]  village,  AND  SCHOOL  DISTRICT
taxation[,  but  shall  not  be  applicable  to  taxes levied for school
purposes].
  (iii) The exemption provided by  paragraph  (a)  of  this  subdivision
shall be granted for a period of ten years. The commencement of such ten
year  period  shall  be  governed pursuant to this subparagraph. Where a

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

                                                           LBD13619-02-4

A. 8694                             2

qualified owner owns qualifying residential real property on the  effec-
tive  date  of the local law OR RESOLUTION providing for such exemption,
such ten year period shall be measured from the assessment roll prepared
pursuant  to  the  first  taxable  status date occurring on or after the
effective date of  the  local  law  OR  RESOLUTION  providing  for  such
exemption.  Where  a qualified owner does not own qualifying residential
real property on the effective date  of  the  local  law  OR  RESOLUTION
providing  for  such  exemption,  such ten year period shall be measured
from the assessment roll prepared pursuant to the first  taxable  status
date  occurring at least sixty days after the date of purchase of quali-
fying residential real property;  provided,  however,  that  should  the
veteran  apply  for  and  be granted an exemption on the assessment roll
prepared pursuant to a taxable status date occurring within  sixty  days
after  the  date of purchase of residential real property, such ten year
period shall be measured from the first assessment  roll  in  which  the
exemption  occurs.  If,  before  the expiration of such ten year period,
such exempt property is sold and replaced with  other  residential  real
property, such exemption may be granted pursuant to this subdivision for
the  unexpired  portion  of  the ten year exemption period. Each county,
city, town or village may adopt a local law,  AND  SCHOOL  DISTRICT  MAY
ADOPT  A  RESOLUTION, to reduce the maximum exemption allowable in para-
graphs (a) and (b) of this subdivision to  six  thousand  dollars,  nine
thousand  dollars  and  thirty  thousand  dollars, respectively, or four
thousand dollars, six thousand  dollars  and  twenty  thousand  dollars,
respectively.  Each county, city, town, or village is also authorized to
adopt a local law, AND  SCHOOL  DISTRICT  MAY  ADOPT  A  RESOLUTION,  to
increase  the  maximum  exemption allowable in paragraphs (a) and (b) of
this subdivision to ten thousand dollars, fifteen thousand  dollars  and
fifty  thousand dollars, respectively; twelve thousand dollars, eighteen
thousand dollars and  sixty  thousand  dollars,  respectively;  fourteen
thousand  dollars,  twenty-one  thousand  dollars  and  seventy thousand
dollars, respectively; sixteen thousand  dollars,  twenty-four  thousand
dollars  and  eighty  thousand  dollars, respectively; eighteen thousand
dollars, twenty-seven thousand  dollars  and  ninety  thousand  dollars,
respectively;  twenty  thousand dollars, thirty thousand dollars and one
hundred thousand dollars,  respectively;  twenty-two  thousand  dollars,
thirty-three  thousand  dollars  and  one  hundred ten thousand dollars,
respectively; twenty-four thousand dollars, thirty-six thousand  dollars
and  one  hundred  twenty thousand dollars, respectively. In addition, a
county, city, town or village  which  is  a  "high-appreciation  munici-
pality"  as  defined in this subparagraph is authorized to adopt a local
law, AND EACH SCHOOL DISTRICT WHICH IS WITHIN A HIGH-APPRECIATION  MUNI-
CIPALITY  IS  AUTHORIZED  TO ADOPT A RESOLUTION, to increase the maximum
exemption allowable in paragraphs (a) and (b)  of  this  subdivision  to
twenty-six  thousand  dollars,  thirty-nine  thousand  dollars  and  one
hundred thirty thousand  dollars,  respectively;  twenty-eight  thousand
dollars,  forty-two  thousand  dollars  and  one  hundred forty thousand
dollars, respectively;  thirty  thousand  dollars,  forty-five  thousand
dollars and one hundred fifty thousand dollars, respectively; thirty-two
thousand  dollars,  forty-eight  thousand  dollars and one hundred sixty
thousand dollars, respectively; thirty-four thousand dollars,  fifty-one
thousand dollars and one hundred seventy thousand dollars, respectively;
thirty-six thousand dollars, fifty-four thousand dollars and one hundred
eighty  thousand  dollars, respectively.   For purposes of this subpara-
graph, a "high-appreciation municipality" means: (A) a special assessing
unit that is a city, (B) a county for which the commissioner has  estab-

A. 8694                             3

lished  a  sales  price  differential  factor  for  purposes of the STAR
exemption authorized by section four hundred twenty-five of  this  title
in  three  consecutive  years,  and (C) a city, town or village which is
wholly or partly located within such a county.
  S  3.  Subdivision 5 of section 458-b of the real property tax law, as
added by chapter 655 of the laws of 2007, is amended to read as follows:
  5. A local law OR RESOLUTION adopted pursuant to this section  may  be
repealed  by  the  governing  body of the applicable county, city, town,
[or] village OR SCHOOL DISTRICT.  Such repeal shall occur at least nine-
ty days prior to the taxable status date of  such  county,  city,  town,
[or] village OR SCHOOL DISTRICT.
  S 4. This act shall take effect immediately.