Assembly Bill A8694

2013-2014 Legislative Session

Authorizes school districts to grant the Cold War veterans' real property tax exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A8694 (ACTIVE) - Details

See Senate Version of this Bill:
S6468
Current Committee:
Senate Veterans, Homeland Security And Military Affairs
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง458-b, RPT L
Versions Introduced in 2015-2016 Legislative Session:
A3379, S2210

2013-A8694 (ACTIVE) - Summary

Authorizes school districts to grant the Cold War veterans' real property tax exemption.

2013-A8694 (ACTIVE) - Bill Text download pdf

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

                                  8694

                          I N  A S S E M B L Y

                            February 3, 2014
                               ___________

Introduced by M. of A. CUSICK -- read once and referred to the Committee
  on Veterans' Affairs

AN  ACT  to  amend the real property tax law, in relation to authorizing
  school districts to grant an exemption to Cold War veterans

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

  Section 1. Paragraph (a) of subdivision 2 of section 458-b of the real
property  tax  law,  as  amended  by chapter 235 of the laws of 2009, is
amended to read as follows:
  (a) Each county, city, town or village may adopt a local law, AND EACH
SCHOOL DISTRICT MAY ADOPT A RESOLUTION, to provide that qualifying resi-
dential 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 multiplied  by  the  latest  state
equalization  rate  of  the assessing unit, or, in the case of a special
assessing unit, the latest class  ratio,  whichever  is  less  or;  (ii)
fifteen  percent of the assessed value of such property; provided howev-
er, that such exemption shall not exceed twelve thousand dollars or  the
product of twelve thousand dollars multiplied by the latest state equal-
ization  rate  for  the  assessing  unit,  or,  in the case of a special
assessing unit, the latest class ratio, whichever is less.
  S 2. Subparagraphs (i) and (iii) of paragraph (c) of subdivision 2  of
section 458-b of the real property tax law, as amended by chapter 235 of
the  laws  of 2009, subparagraph (iii) as further amended by subdivision
(b) of section 1 of part W of chapter  56  of  the  laws  of  2010,  are
amended to read as follows:
  (i)  The exemption from taxation provided by this subdivision shall be
applicable to county, city, town, [and]  village,  AND  SCHOOL  DISTRICT
taxation[,  but  shall  not  be  applicable  to  taxes levied for school
purposes].
  (iii) 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

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

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