The New York State Senate

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    74
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by  M.  of A. SAYEGH, THIELE, TAGUE, LEMONDES, DURSO -- 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD01774-01-3
 A. 74                               2
 
 ribbon or service medal, or the armed forces expeditionary  medal,  navy
 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.