Senate Bill S2570

2019-2020 Legislative Session

Provides additional tax exemptions for two qualified veterans living in the same household

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-S2570 (ACTIVE) - Details

Current Committee:
Assembly Veterans' Affairs
Law Section:
Real Property Tax Law
Laws Affected:
Amd §458-a, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: S5370
2011-2012: S3812
2013-2014: S3355
2015-2016: S2025
2017-2018: S3336
2021-2022: S3402

2019-S2570 (ACTIVE) - Summary

Provides additional tax exemptions on qualifying residential real property where two or more qualified veterans live in the same household.

2019-S2570 (ACTIVE) - Sponsor Memo

2019-S2570 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2570
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 28, 2019
                                ___________
 
 Introduced  by  Sens.  BAILEY, ADDABBO, COMRIE, SAVINO, STAVISKY -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Veterans, Homeland Security and Military Affairs
 
 AN  ACT  to  amend the real property tax law, in relation to granting an
   additional tax exemption for two qualified veterans living in the same
   household
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraphs (a) and (b) 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 and paragraph (b) as amended by chapter 473 of the laws
 of 2004, are amended to read as follows:
   (a) (I) 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.
   (II) IN ADDITION TO THE EXEMPTION PROVIDED BY SUBPARAGRAPH (I) OF THIS
 PARAGRAPH, WHERE MORE THAN ONE VETERAN, QUALIFYING UNDER  THIS  SECTION,
 LIVES  IN  THE SAME HOUSEHOLD, QUALIFYING RESIDENTIAL REAL PROPERTY ALSO
 SHALL BE EXEMPT   FROM TAXATION TO THE  EXTENT  OF  SEVEN  AND  ONE-HALF
 PERCENT  OF THE ASSESSED VALUE OF SUCH PROPERTY; PROVIDED, HOWEVER, THAT
 SUCH ADDITIONAL EXEMPTION SHALL NOT EXCEED SIX THOUSAND DOLLARS  OR  THE
 PRODUCT OF SIX THOUSAND DOLLARS MULTIPLIED BY THE LATEST STATE EQUALIZA-
 TION  RATE FOR THE ASSESSING UNIT, OR IN THE CASE OF A SPECIAL ASSESSING
 UNIT, THE LATEST CLASS RATIO, WHICHEVER IS LESS.
   (b) (I) 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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