The New York State Senate

 
                     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.

                                                            LBD06822-01-1

 A. 4694                             2
 
 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 thousand
 dollars multiplied by the latest state equalization rate for the assess-
 ing unit, or in the case of a special assessing unit, the  class  ratio,
 whichever is less.
   (II)  IN  ADDITION  TO THE EXEMPTION PROVIDED BY PARAGRAPH (A) OF THIS
 SUBDIVISION AND THE EXEMPTION PROVIDED BY SUBPARAGRAPH (I) OF THIS PARA-
 GRAPH, WHERE MORE THAN ONE VETERAN,  QUALIFYING  UNDER  THIS  PARAGRAPH,
 LIVES  IN  THE SAME HOUSEHOLD, QUALIFYING RESIDENTIAL REAL PROPERTY ALSO
 SHALL BE EXEMPT FROM TAXATION TO THE  EXTENT  OF  FIVE  PERCENT  OF  THE
 ASSESSED VALUE OF SUCH PROPERTY; PROVIDED, HOWEVER, THAT SUCH ADDITIONAL
 EXEMPTION  SHALL NOT EXCEED FOUR THOUSAND DOLLARS OR THE PRODUCT OF FOUR
 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.
   § 2. This act shall take effect on the first of January next  succeed-
 ing the date on which it shall have become a law.