Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to veterans, homeland security and military affairs |
May 11, 2015 |
referred to veterans, homeland security and military affairs |
Senate Bill S5252
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
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
Actions
2015-S5252 (ACTIVE) - Details
- Current Committee:
- Senate Veterans, Homeland Security And Military Affairs
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยง458-a, RPT L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3275
2011-2012: S3214
2013-2014: S3303
2017-2018: S2435
2015-S5252 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5252 TITLE OF BILL: An act to amend the real property tax law, in relation to the veteran's alternative exemption PURPOSE: This legislation would ensure veterans benefit from the veterans' alter- native exemption notwithstanding an increase in property value. SUMMARY OF PROVISIONS: Section one of this measure amends paragraphs (a), (b), (c) of section 458-a, subdivision 2 of the Real Property Tax law. JUSTIFICATION: The "new" veterans' exemption, enacted by chapter 525 of the laws of 1984, provided wartime, combat zone and disabled veterans with 15%, 10% and 50% of disability rating exemptions, respectively. These exemptions are also subject to maximums of $12,000, $8,000 and $40,000 respective- ly. A formula utilizing the equalization rate ensures that veterans living in assessing units that assess at different percentages of full value receive similar exemptions. When enacted, the maximum value of a
2015-S5252 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5252 2015-2016 Regular Sessions I N S E N A T E May 11, 2015 ___________ Introduced by Sen. NOZZOLIO -- 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 the veteran's alternative exemption THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs (a), (b), and (c) 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, paragraph (b) as amended by chapter 473 of the laws of 2004, and paragraph (c) as amended by chapter 100 of the laws of 1988, are amended to read as follows: (a) 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] FIFTEEN thousand dollars or the product of [twelve] FIFTEEN 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. (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, 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] TEN thousand dollars or the product of [eight] TEN thousand dollars multiplied by the latest state equalization rate for the assessing unit, or in the case of a special assessing unit, the class ratio, whichever is less. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07152-02-5
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