S T A T E   O F   N E W   Y O R K
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                                  4766

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs

AN ACT to amend the real property  tax law, in  relation  to  increasing
  the tax exemption for Cold War veterans and cooperative apartments and
  property held in trust for the benefit of a veteran

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (g) of subdivision 1 of section 458-b of the real
property tax law, as added by chapter  655  of  the  laws  of  2007,  is
amended to read as follows:
  (g) "Latest state equalization rate" means the latest final [equaliza-
tion  rate  established by the state board pursuant to article twelve of
this chapter.] STATE EQUALIZATION  RATE  OR  SPECIAL  EQUALIZATION  RATE
ESTABLISHED  BY THE STATE BOARD PURSUANT TO ARTICLE TWELVE OF THIS CHAP-
TER. THE STATE BOARD SHALL ESTABLISH A SPECIAL EQUALIZATION RATE  IF  IT
FINDS  THAT  THERE HAS BEEN A MATERIAL CHANGE IN THE LEVEL OF ASSESSMENT
SINCE THE ESTABLISHMENT OF THE LATEST STATE EQUALIZATION RATE, BUT IN NO
EVENT SHALL SUCH SPECIAL EQUALIZATION RATE EXCEED ONE  HUNDRED.  IN  THE
EVENT  THAT  THE  STATE  EQUALIZATION RATE EXCEEDS ONE HUNDRED, THEN THE
STATE EQUALIZATION RATE SHALL BE ONE HUNDRED FOR THE  PURPOSES  OF  THIS
SECTION.  WHERE  A SPECIAL EQUALIZATION RATE IS ESTABLISHED FOR PURPOSES
OF THIS SECTION, THE ASSESSOR IS DIRECTED AND  AUTHORIZED  TO  RECOMPUTE
THE  COLD WAR VETERANS EXEMPTION ON THE ASSESSMENT ROLL BY APPLYING SUCH
SPECIAL EQUALIZATION RATE INSTEAD OF THE LATEST STATE EQUALIZATION  RATE
APPLIED  IN THE PREVIOUS YEAR AND TO MAKE THE APPROPRIATE CORRECTIONS ON
THE ASSESSMENT ROLL, NOTWITHSTANDING THE FACT  THAT  SUCH  ASSESSOR  MAY
RECEIVE THE SPECIAL EQUALIZATION RATE AFTER THE COMPLETION, VERIFICATION
AND FILING OF SUCH FINAL ASSESSMENT ROLL. IN THE EVENT THAT THE ASSESSOR
DOES  NOT  HAVE  CUSTODY  OF  THE ROLL WHEN SUCH RECOMPUTATION IS ACCOM-
PLISHED, THE ASSESSOR SHALL CERTIFY  SUCH  RECOMPUTATION  TO  THE  LOCAL
OFFICERS  HAVING  CUSTODY AND CONTROL OF SUCH ROLL, AND SUCH LOCAL OFFI-
CERS ARE HEREBY DIRECTED AND AUTHORIZED TO ENTER THE RECOMPUTED COLD WAR
VETERANS EXEMPTION CERTIFIED BY THE ASSESSOR ON SUCH ROLL.

              

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09901-04-9

S. 4766                             2

  S 2.  Subdivisions 2, 3, 4 and 4-a of section 458-b of the real  prop-
erty  tax  law, subdivisions 2 and 3 as added by chapter 655 of the laws
of 2007 and subparagraph (iv) of paragraph  (c)  of  subdivision  2  and
subdivision  4  as  amended and subdivision 4-a as added by chapter 6 of
the laws of 2008, are amended to read as follows:
  2.  (a)  Each  county,  city, town or village may adopt a local law to
provide that qualifying residential real property shall be  exempt  from
taxation  to the extent of either: (i) 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  multi-
plied  by  the latest state equalization rate of the assessing unit, or,
in the case of a special assessing unit, the latest class ratio,  which-
ever  is  less  or;  (ii)  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 [of] FOR the assessing unit, or, in
the case of a special assessing unit, the latest class ratio,  whichever
is less.
  (b)  In  addition  to  the exemption provided by paragraph (a) of this
subdivision, where the Cold War veteran received a  compensation  rating
from  the  United  States  veterans  affairs  or  from the United States
department of defense because of a service connected disability,  quali-
fying  residential  real  property  shall be exempt from taxation to the
extent of the product of the assessed value of such property, multiplied
by fifty percent of the Cold War veteran  disability  rating;  provided,
however, that such exemption shall not exceed forty thousand dollars, or
the  product  of  forty  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.
  (c)  Limitations.  (i)  The  exemption  from taxation provided by this
subdivision shall be applicable to county, city, town, and village taxa-
tion, but shall not be applicable to taxes levied for school purposes.
  (ii) If a Cold War veteran receives the exemption under  section  four
hundred  fifty-eight  or  four  hundred fifty-eight-a of this title, the
Cold War veteran shall not be eligible to receive  the  exemption  under
this section.
  (iii)  [Each  county,  city, town, or village may adopt a local law to
reduce the maximum exemption allowable in subparagraphs (i) and (ii)  of
paragraph  (a)  of this subdivision and the exemption allowable in para-
graph (b) of this subdivision to six  thousand  dollars,  nine  thousand
dollars  and  thirty  thousand  dollars,  respectively  or four thousand
dollars, six thousand dollars and twenty thousand dollars, respectively.
  (iv)] The exemption provided by  paragraph  (a)  of  this  subdivision
shall be granted for a period of ten years. The commencement of such ten
year  period  shall  be  governed pursuant to this subparagraph. Where a
qualified owner owns qualifying residential real property on the  effec-
tive  date  of the local law providing for such exemption, such ten year
period shall be measured from the assessment roll prepared  pursuant  to
the  first  taxable status date occurring on or after the effective date
of the local law providing for such exemption. Where a  qualified  owner
does  not own qualifying residential real property on the effective date
of the local law providing for such  exemption,  such  ten  year  period
shall  be  measured  from  the  assessment roll prepared pursuant to the
first taxable status date occurring at least sixty days after  the  date
of  purchase of qualifying residential real property; provided, however,
that should the veteran apply for and be granted  an  exemption  on  the

S. 4766                             3

assessment  roll  prepared  pursuant  to a taxable status date occurring
within sixty days after the date of purchase of residential real proper-
ty, such ten year period shall be measured  from  the  first  assessment
roll  in  which  the exemption occurs. If, before the expiration of such
ten year period, such exempt property is sold and  replaced  with  other
residential  real  property,  such  exemption may be granted pursuant to
this subdivision for the unexpired portion of  the  ten  year  exemption
period.    EACH  COUNTY,  CITY, TOWN OR VILLAGE MAY ADOPT A LOCAL LAW TO
REDUCE THE MAXIMUM EXEMPTION ALLOWABLE IN PARAGRAPHS (A) AND (B) OF THIS
SUBDIVISION TO SIX THOUSAND DOLLARS, NINE THOUSAND  DOLLARS  AND  THIRTY
THOUSAND  DOLLARS,  RESPECTIVELY, OR FOUR THOUSAND DOLLARS, SIX THOUSAND
DOLLARS AND TWENTY THOUSAND DOLLARS, RESPECTIVELY.  EACH  COUNTY,  CITY,
TOWN, OR VILLAGE IS ALSO AUTHORIZED TO ADOPT A LOCAL LAW TO INCREASE THE
MAXIMUM  EXEMPTION  ALLOWABLE IN PARAGRAPHS (A) AND (B) OF THIS SUBDIVI-
SION TO TEN THOUSAND DOLLARS, FIFTEEN THOUSAND DOLLARS AND  FIFTY  THOU-
SAND  DOLLARS,  RESPECTIVELY; TWELVE THOUSAND DOLLARS, EIGHTEEN THOUSAND
DOLLARS AND SIXTY  THOUSAND  DOLLARS,  RESPECTIVELY;  FOURTEEN  THOUSAND
DOLLARS,  TWENTY-ONE  THOUSAND  DOLLARS  AND  SEVENTY  THOUSAND DOLLARS,
RESPECTIVELY; SIXTEEN THOUSAND DOLLARS, TWENTY-FOUR THOUSAND DOLLARS AND
EIGHTY THOUSAND DOLLARS, RESPECTIVELY; EIGHTEEN THOUSAND DOLLARS,  TWEN-
TY-SEVEN  THOUSAND  DOLLARS  AND  NINETY THOUSAND DOLLARS, RESPECTIVELY;
TWENTY THOUSAND DOLLARS, THIRTY THOUSAND DOLLARS AND ONE  HUNDRED  THOU-
SAND  DOLLARS,  RESPECTIVELY;  TWENTY-TWO THOUSAND DOLLARS, THIRTY-THREE
THOUSAND DOLLARS AND ONE HUNDRED  TEN  THOUSAND  DOLLARS,  RESPECTIVELY;
TWENTY-FOUR  THOUSAND  DOLLARS,  THIRTY-SIX  THOUSAND  DOLLARS  AND  ONE
HUNDRED TWENTY THOUSAND DOLLARS, RESPECTIVELY. IN  ADDITION,  A  COUNTY,
CITY,  TOWN  OR  VILLAGE  WHICH IS A "HIGH-APPRECIATION MUNICIPALITY" AS
DEFINED IN THIS SUBPARAGRAPH IS AUTHORIZED  TO  ADOPT  A  LOCAL  LAW  TO
INCREASE  THE  MAXIMUM  EXEMPTION ALLOWABLE IN PARAGRAPHS (A) AND (B) OF
THIS SUBDIVISION TO TWENTY-SIX THOUSAND  DOLLARS,  THIRTY-NINE  THOUSAND
DOLLARS   AND   ONE   HUNDRED  THIRTY  THOUSAND  DOLLARS,  RESPECTIVELY;
TWENTY-EIGHT  THOUSAND  DOLLARS,  FORTY-TWO  THOUSAND  DOLLARS  AND  ONE
HUNDRED  FORTY  THOUSAND DOLLARS, RESPECTIVELY; THIRTY THOUSAND DOLLARS,
FORTY-FIVE THOUSAND DOLLARS AND  ONE  HUNDRED  FIFTY  THOUSAND  DOLLARS,
RESPECTIVELY;  THIRTY-TWO THOUSAND DOLLARS, FORTY-EIGHT THOUSAND DOLLARS
AND ONE HUNDRED SIXTY THOUSAND DOLLARS, RESPECTIVELY; THIRTY-FOUR  THOU-
SAND  DOLLARS,  FIFTY-ONE THOUSAND DOLLARS AND ONE HUNDRED SEVENTY THOU-
SAND DOLLARS,  RESPECTIVELY;  THIRTY-SIX  THOUSAND  DOLLARS,  FIFTY-FOUR
THOUSAND  DOLLARS AND ONE HUNDRED EIGHTY THOUSAND DOLLARS, RESPECTIVELY.
FOR PURPOSES OF THIS SUBPARAGRAPH,  A  "HIGH-APPRECIATION  MUNICIPALITY"
MEANS:  (A)  A  SPECIAL  ASSESSING UNIT THAT IS A CITY, (B) A COUNTY FOR
WHICH THE STATE BOARD HAS ESTABLISHED A SALES PRICE DIFFERENTIAL  FACTOR
FOR  PURPOSES  OF  THE STAR EXEMPTION AUTHORIZED BY SECTION FOUR HUNDRED
TWENTY-FIVE OF THIS TITLE IN THREE CONSECUTIVE YEARS, AND  (C)  A  CITY,
TOWN OR VILLAGE WHICH IS WHOLLY OR PARTLY LOCATED WITHIN SUCH A COUNTY.
  3. [Notwithstanding the foregoing provisions of this section, no later
than  ninety  days  before  the taxable status date next occurring on or
after the thirty-first of December, two thousand seven, after  a  public
hearing,  the  governing  body of any county, city, town, or village may
adopt a local law to provide that the exemption shall be granted  pursu-
ant  to  this  section for the purposes of taxes levied for such county,
city, town, or village. For the purposes of a county  which  is  not  an
assessing  unit,  the taxable status date occurring on or after December
thirty-first, two thousand seven shall mean the first such tax roll  for
which the county taxes are levied.

S. 4766                             4

  4.]  Application  for  exemption shall be made by the owner, or all of
the owners, of the property on a form prescribed by the state board. The
owner or owners shall file the completed form in the  assessor's  office
on  or  before  the first appropriate taxable status date. The exemption
shall  continue  in full force and effect for all appropriate subsequent
tax years and the owner or owners of the property shall not be  required
to refile each year. Applicants shall be required to refile on or before
the  appropriate  taxable  status  date  if the percentage of disability
percentage increases or decreases or may refile if  other  changes  have
occurred which affect qualification for an increased or decreased amount
of  exemption.  Any  applicant  convicted  of willfully making any false
statement in the application for such exemption shall be subject to  the
penalties prescribed in the penal law.
  [4-a.]  4. Notwithstanding the provisions of this section or any other
provision of law, in a city having a population of one million or  more,
applications for the exemption authorized pursuant to this section shall
be  considered timely filed if they are filed on or before the fifteenth
day of March of the appropriate year.
  S 3. Section 458-b of the real property tax law is amended  by  adding
two new subdivisions 6 and 7 to read as follows:
  6.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, THE
PROVISIONS OF THIS SECTION SHALL APPLY TO  ANY  REAL  PROPERTY  HELD  IN
TRUST  SOLELY FOR THE BENEFIT OF A PERSON OR PERSONS WHO WOULD OTHERWISE
BE ELIGIBLE FOR A REAL PROPERTY TAX EXEMPTION, PURSUANT TO THIS SECTION,
WERE SUCH PERSON OR PERSONS THE OWNER OR OWNERS OF SUCH REAL PROPERTY.
  7. (A) FOR THE PURPOSES OF THIS SECTION, TITLE TO THE PORTION OF  REAL
PROPERTY  OWNED  BY  A  COOPERATIVE  APARTMENT  CORPORATION  IN  WHICH A
TENANT-STOCKHOLDER OF SUCH CORPORATION RESIDES AND WHICH IS  REPRESENTED
BY HIS OR HER SHARE OR SHARES OF STOCK IN SUCH CORPORATION AS DETERMINED
BY ITS OR THEIR PROPORTIONAL RELATIONSHIP TO THE TOTAL OUTSTANDING STOCK
OF  THE  CORPORATION,  INCLUDING THAT OWNED BY THE CORPORATION, SHALL BE
DEEMED TO BE VESTED IN SUCH TENANT-STOCKHOLDER.
  (B) PROVIDED THAT ALL OTHER ELIGIBILITY CRITERIA OF THIS  SECTION  ARE
MET,  THAT PROPORTION OF THE ASSESSMENT OF SUCH REAL PROPERTY OWNED BY A
COOPERATIVE APARTMENT CORPORATION DETERMINED BY THE RELATIONSHIP OF SUCH
REAL PROPERTY VESTED IN SUCH TENANT-STOCKHOLDER TO  SUCH  REAL  PROPERTY
OWNED   BY   SUCH   COOPERATIVE  APARTMENT  CORPORATION  IN  WHICH  SUCH
TENANT-STOCKHOLDER RESIDES SHALL BE SUBJECT TO EXEMPTION  FROM  TAXATION
PURSUANT  TO THIS SECTION AND ANY EXEMPTION SO GRANTED SHALL BE CREDITED
BY THE APPROPRIATE TAXING AUTHORITY AGAINST THE  ASSESSED  VALUATION  OF
SUCH REAL PROPERTY; THE REDUCTION IN REAL PROPERTY TAXES REALIZED THERE-
BY  SHALL  BE  CREDITED BY THE COOPERATIVE APARTMENT CORPORATION AGAINST
THE AMOUNT OF SUCH TAXES OTHERWISE PAYABLE  BY  OR  CHARGEABLE  TO  SUCH
TENANT-STOCKHOLDER.
  (C)   NOTWITHSTANDING   PARAGRAPH   (B)   OF   THIS   SUBDIVISION,   A
TENANT-STOCK-HOLDER WHO RESIDES IN A DWELLING THAT  IS  SUBJECT  TO  THE
PROVISIONS  OF  EITHER  ARTICLE TWO, FOUR, FIVE OR ELEVEN OF THE PRIVATE
HOUSING FINANCE LAW SHALL NOT BE ELIGIBLE FOR AN EXEMPTION  PURSUANT  TO
THIS SECTION.
  (D)  NOTWITHSTANDING  PARAGRAPH (B) OF THIS SUBDIVISION, REAL PROPERTY
OWNED BY A COOPERATIVE CORPORATION MAY BE EXEMPT FROM TAXATION  PURSUANT
TO THIS SECTION BY A MUNICIPALITY IN WHICH SUCH PROPERTY IS LOCATED ONLY
IF THE GOVERNING BODY OF SUCH MUNICIPALITY, AFTER PUBLIC HEARING, ADOPTS
A LOCAL LAW, ORDINANCE OR RESOLUTION PROVIDING THEREFOR.

S. 4766                             5

  S  4.  This  act shall take effect January 2, 2010, and shall apply to
assessment rolls prepared on the basis of taxable status dates occurring
on or after such date.