senate Bill S6468

2013-2014 Legislative Session

Authorizes school districts to grant the Cold War veterans' real property tax exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 28, 2014 referred to veterans, homeland security and military affairs

Co-Sponsors

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S6468 - Details

See Assembly Version of this Bill:
A8694
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง458-b, RPT L

S6468 - Summary

Authorizes school districts to grant the Cold War veterans' real property tax exemption.

S6468 - Sponsor Memo

S6468 - Bill Text download pdf

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

                                  6468

                            I N  S E N A T E

                            January 28, 2014
                               ___________

Introduced  by  Sen.  LARKIN -- 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  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

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

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