S T A T E O F N E W Y O R K
________________________________________________________________________
5578
2025-2026 Regular Sessions
I N A S S E M B L Y
February 18, 2025
___________
Introduced by M. of A. HUNTER -- read once and referred to the Committee
on Veterans' Affairs
AN ACT to amend the real property tax law, in relation to real property
tax exemptions for veterans
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (b) of subdivision 2 of section 458-a of the real
property tax law, as amended by chapter 473 of the laws of 2004, is
amended to read as follows:
(b) 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
expeditionary medal, marine corps expeditionary medal, or global war on
terrorism expeditionary medal, OR WHERE THE VETERAN SERVED ON A SUBMA-
RINE OR ON CLASSIFIED MISSIONS DURING A PERIOD OF WAR AS DOCUMENTED BY
MILITARY SERVICE RECORDS, 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.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05448-01-5