assembly Bill A4694

2021-2022 Legislative Session

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

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Sponsored By

Current Bill Status - In Assembly Committee


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

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 10, 2022 held for consideration in real property taxation
Jan 05, 2022 referred to real property taxation
Feb 04, 2021 referred to real property taxation

Co-Sponsors

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A4694 (ACTIVE) - Details

See Senate Version of this Bill:
S3402
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
2019-2020: S2570

A4694 (ACTIVE) - Summary

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

A4694 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4694
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2021
                                ___________
 
 Introduced by M. of A. SAYEGH -- read once and referred to the Committee
   on Real Property Taxation
 
 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
 ribbon  or  service medal, or the armed forces expeditionary medal, navy
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.