What's happening
This bill grants an additional property tax exemption to households where more than one qualified veteran resides.
Why it matters
Provides enhanced financial relief for households with multiple qualified veterans. , directly reducing their property tax burden more than currently allowed, which could help veterans afford to remain in their homes.
Recognizes the cumulative service and sacrifice of households with more than one veteran. , offering a tangible acknowledgment that may be particularly meaningful for families where both spouses or multiple relatives are veterans.
May incentivize veterans to cohabitate or support multigenerational veteran families. , potentially fostering stronger support networks and improving quality of life for those who have served.
Could impact local tax revenues and municipal budgets. , since the expanded exemptions reduce the taxable property base, potentially shifting tax burdens or requiring adjustments to public spending.
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Who cares
Headline styles
Boost Tax Breaks for Veterans
Plain English, a few words. Used as the page title.
Sponsors
History
- Referred to veterans' affairs
- Delivered to assembly
- Passed senateVote 60–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.126
- Referred to veterans, homeland security and military affairs
- Returned to senate
- Died in assembly
- Referred to veterans' affairs
- Delivered to assembly
- Passed senateVote 59–0
Show 3 earlier actions
- Ordered to third reading cal.340
- Committee discharged and committed to rules
- Referred to veterans, homeland security and military affairs
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2570
2019-2020 Regular Sessions
IN SENATE
January 28, 2019
Introduced by Sens. BAILEY, ADDABBO, COMRIE, SAVINO, STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Veterans, Homeland Security 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 Assembly, 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 equalization 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.
LBD05409-01-9
S. 2570 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 assessing 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 paragraph, 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 succeeding the date on which it shall have become a law.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
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
Purpose
To allow for an additional real property tax exemption when two quali- fied veterans reside in the same household for the alternative veterans' exemptions.
Existing law
RPT law Section 458a subsection 2a provides a real property exemption for veterans up to 15% of the assessed value of such property, provided, that such exemption shall not exceed $12,000 or the product of twelve thousand dollars multiplied by the latest state equalization rate.
RPT law section 458a subsection 2h provides an additional exemption of up to 10 of qualifying residential real property for veterans who served in a combat theatre or combat zone of operations, provided, however, that such exemption shall not exceed $8000 or the product of eight thou- sand dollars multiplied by the latest state equalization rate for the assessing unit.
Justification
By enlisting as a member of the armed forces a person chooses to place themselves in harm's way to protect our country and our freedoms. With the United States' ongoing involvement in Iraq and Afghanistan a soldier's enlistment means there is a significant chance of deployment. When a soldier is deployed there is a financial burden placed on the families they leave behind. This is a debt that their families may endure for years to come.
New York State recognizes and rewards the soldiers who enlist and serve during a time of war by granting them an Alternative Veterans real prop- erty tax exemption. The Alternative Veterans Exemption is available only for residential property of veterans who served. during wartime or received an expeditionary medal. This provides for an exemption of 15t of the assessed value to veterans who served during wartime and an addi- tional in to those who served in e combat zone. Each county must opt-in" to grant this alternative exemption.
However, if two qualified veterans reside in the same household the exemption does not change or increase. This legislation will allow for an increase of the Alternative Veterans exemption for a household with two qualifying veterans. The new language provides for an addition of half of the current percentages allowed. Therefore, a household with two veterans who served during wartime would receive an exemption up to 22.5% of the assessed value of the property and additional 15% if both veterans served in a combat zone. Each county must still opt in to grant this alternative exemption. This legislation will Properly recognize and reward all veterans who have served their country and who own property in New York State.
Legislative history
2015-16: S.2025 - Referred to Veterans, Homeland Security & Military Affairs 2017-18: S.3336 - Referred to Veterans' Affairs
Fiscal implications
None to the state.
Effective date
The first of January succeeding the date in which it becomes law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.