Establishes a real property tax exemption for reservists

1 Co-sponsor

• Tony Avella

BILL NUMBER:S5231

Title of bill

An act to amend the real property tax law, in relation to establishing an exemption for reservists

Purpose

To establish a real property tax exemption for members of the reserve force of the united States military.

Summary of provisions

Section one of the bill adds a new section 458-c to the real property tax law to define reservists and related terms. It also provides the formula for a real property tax exemption, and authorizes localities to adopt a local law providing that these exemptions be granted. It also sets forth requirements for administration of these exemptions, and authorizes that localities may repeal the local law.

Section two provides the effective date of the bill.

Justification

This legislation is intended to provide reservists with a real property tax exemption. Reservists of the united States military have served our country during many periods of war and they deserve the same real property tax exemptions as are already allowed for other veterans of war. Most recently, Cold War veterans were given such exemptions in legislation passed in 2007.

Veterans exemptions are currently available to veterans who served during specific periods of war, however, reservists, who have served their country in these same conflicts are excluded from receiving this same benefit. This bill addresses this inequity.

Legislative history

None. This is a new bill. Similar legislation has been passed for other veterans and most recently for Cold War veterans in 2007.

Fiscal implications

None to the state.

Effective date

On the first of January next succeeding the date on which it shall have become a law, and shall apply to assessment roles prepared on the basis of taxable status dates occurring on or after such date.