S T A T E O F N E W Y O R K
________________________________________________________________________
3336
2017-2018 Regular Sessions
I N S E N A T E
January 20, 2017
___________
Introduced by Sen. BAILEY -- 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 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.
LBD08617-01-7
S. 3336 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.