What's happening
This bill amends the real property tax law to clarify veterans’ alternative property tax exemptions, set an income limit, and provide state reimbursement to school districts for lost revenue.
Why it matters
Clarifies how veterans’ property tax exemptions are recorded and treated in assessment rolls. , ensuring greater transparency for taxpayers and administrators by requiring assessors to list the exemption separately.
Removes the impact of veterans’ exemptions from school district tax calculations and state aid formulas. , preventing these exemptions from reducing school funding or affecting debt limits, tax rates, and tax apportionment among districts.
Establishes a process for full state reimbursement to school districts for revenue lost due to veterans’ exemptions. , which protects local school budgets and shifts the financial responsibility to the state, potentially increasing state expenditures.
Introduces a high-income eligibility limit (currently $500,000 annually) for the exemption. , which focuses the benefit on veterans with greater financial need and prevents high-income individuals from receiving the property tax break.
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Who cares
Headline styles
Fund Veteran Tax Exemptions
Plain English, a few words. Used as the page title.
Sponsors
11 Co-sponsors
1 Multi-sponsor
History
- Print number 2696a
- Amend and recommit to veterans' affairs
- Referred to veterans' affairs
- Referred to veterans' affairs
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Expand Veterans’ Property Tax Exemptions
In Senate Committee · Finance · Sponsor David Carlucci
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2696--A
2017-2018 Regular Sessions
IN ASSEMBLY
January 20, 2017
Introduced by M. of A. ABINANTI, JAFFEE, ZEBROWSKI, SKOUFIS, BRINDISI, GUNTHER, SANTABARBARA, LUPARDO, STECK, BARRETT, MAYER, WALLACE -- Multi-Sponsored by -- M. of A. WALTER -- read once and referred to the Committee on Veterans' Affairs -- recommitted to the Committee on Veterans' Affairs in accordance with Assembly Rule 3, sec. 2 -committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the real property tax law, in relation to veteran alternative tax exemptions
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 458-a of the real property tax law is amended by adding two new subdivisions 11 and 12 to read as follows:
11. The assessed value of any exemption granted pursuant to this section shall be entered by the assessor on the assessment roll with the taxable property, with the amount of the exemption entered in a separate column.
12. The exemption authorized by this section shall have the effect specified in section thirteen hundred six-b of this chapter. The exemption shall not be considered when determining state aid to education pursuant to section thirty-six hundred two of the education law, when determining school district debt limits pursuant to law, when determining the amount of taxes to be levied by or on behalf of a school district, when calculating tax rates for a school district, when apportioning taxes between or among school districts, when apportioning taxes among classes in a special assessing unit under article eighteen of this chapter, or when apportioning taxes between classes in an approved assessing unit under article nineteen of this chapter.
§ 2. The real property tax law is amended by adding a new section 1306-b to read as follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01825-04-8
A. 2696--A 2
§ 1306-b. Effect of veterans alternative exemption upon school district taxes; state aid. 1. Levy of taxes; determination of taxes due. The amount of taxes to be levied for any school year shall be determined without regard to the fact that state aid will be payable pursuant to this section. In addition, the tax rate for any school year shall be determined as if no parcels were exempt from taxation pursuant to section four hundred fifty-eight-a of this chapter. However, the tax rate so determined shall be applied to the taxable assessed value of each parcel after accounting for all applicable exemptions, including the exemption authorized by section four hundred fifty-eight-a of this chapter.
2. Tax savings. The tax savings for each parcel receiving the exemption authorized by section four hundred fifty-eight-a of this chapter shall be computed by subtracting the amount actually levied against the parcel from the amount that would have been levied if not for the exemption.
3. State aid. (a) The total tax savings duly provided by each school district pursuant to this section shall be a state charge, which shall be payable as provided herein.
(b) A school district seeking state aid pursuant to this section shall submit an application therefor to the commissioner. The application shall include such information as the commissioner shall require.
(c) Upon approving an application for state aid pursuant to this section, the commissioner shall compute and certify to the commissioner of education the amounts payable to the school district. Such state aid shall be payable upon the audit and warrant of the state comptroller from vouchers certified and approved by the commissioner of education, as provided by section thirty-six hundred nine-e of the education law, as applicable.
(d) The commissioner may audit an application for state aid pursuant to this section within one year after authorizing payment thereon. If the commissioner should discover that a school district has received a greater or lesser amount of such aid than it should have received, the commissioner shall so notify the school district, and shall cause the next payment of such aid to the school district to be adjusted accordingly.
(e) When an exemption pursuant to section four hundred fifty-eight-a of this chapter has been revoked, the aid payable to the school district pursuant to this section shall be reduced by the amount of the taxes attributable to the revoked exemption.
§ 3. Paragraph (c) of subdivision 1 of section 458-a of the real property tax law, as amended by chapter 100 of the laws of 1988, is amended to read as follows:
(c) "Qualified owner" means a veteran, the spouse of a veteran or the unremarried surviving spouse of a veteran, provided such person is not earning an annual income equal to or in excess of five hundred thousand dollars. Where property is owned by more than one qualified owner, the exemption to which each is entitled may be combined. Where a veteran is also the unremarried surviving spouse of a veteran, such person may also receive any exemption to which the deceased spouse was entitled.
§ 4. This act shall take effect immediately and shall apply to taxable years beginning on and after January 1, 2019.
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