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A02631 Summary:

BILL NOA02631
 
SAME ASSAME AS S08057
 
SPONSORSayegh
 
COSPNSRTague, Lemondes, Durso, Hyndman, Jackson, Slater
 
MLTSPNSR
 
Amd §458-a, RPT L
 
Provides additional tax exemptions on qualifying residential real property where two or more qualified veterans live in the same household.
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A02631 Actions:

BILL NOA02631
 
01/21/2025referred to real property taxation
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A02631 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A2631
 
SPONSOR: Sayegh
  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 OR GENERAL IDEA OF BILL: To allow for municipalities to offer an additional real property tax exemption when two qualified veterans reside in the same household for the alternative veterans'. exemptions.   SUMMARY OF PROVISIONS: Section 1 amends 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 to include qualified veterans for real property tax exemptions up to 7.5% of the assessed value of such property, provided, however that such additional exemption shall not exceed $6,000 or the product of $6,000 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. Section 2 sets the effective date.   DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE): N/A   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' former involvement in Iraq and Afghanistan, many soldiers had been deployed abroad. 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 property tax exemption. The Alternative Veterans Exemption is available. only for residential property of veterans who served during wartime or received an expeditionary medal. 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.   PRIOR LEGISLATIVE HISTORY: 2021-22: A4694-Held for Consideration in Real Property Taxation 2023-24: A74A-Reported referred to Ways and Means   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None to the State.   EFFECTIVE DATE: This act shall take effect on the first January next succeeding the date on which it shall have become a law.
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A02631 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2631
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 21, 2025
                                       ___________
 
        Introduced by M. of A. SAYEGH, TAGUE, LEMONDES, DURSO, HYNDMAN, JACKSON,
          SLATER  --  read  once  and referred to the Committee on Real Property
          Taxation
 
        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:
 
     1    Section 1. Paragraphs (a) and (b) of subdivision 2 of section 458-a of
     2  the real property tax law, paragraph (a) as amended by  chapter  899  of
     3  the laws of 1985 and paragraph (b) as amended by chapter 473 of the laws
     4  of 2004, are amended to read as follows:
     5    (a)  (i)  Qualifying  residential  real  property shall be exempt from
     6  taxation to the extent of fifteen percent of the assessed value of  such
     7  property; provided, however, that such exemption shall not exceed twelve
     8  thousand dollars or the product of twelve thousand dollars multiplied by
     9  the  latest  state  equalization  rate for the assessing unit, or in the
    10  case of a special assessing unit, the latest class ratio,  whichever  is
    11  less.
    12    (ii) In addition to the exemption provided by subparagraph (i) of this
    13  paragraph,  where  more than one veteran, qualifying under this section,
    14  lives in  the same household, qualifying residential real property  also
    15  may  be  exempt  from taxation to the extent of up to seven and one-half
    16  percent of the assessed value of such property; provided, however,  that
    17  such  additional  exemption shall not exceed six thousand dollars or the
    18  product of six thousand dollars multiplied by the latest state equaliza-
    19  tion rate for the assessing unit, or in the case of a special  assessing
    20  unit,  the  latest  class  ratio,  whichever  is less, provided that the
    21  governing body of a city, village, town, school district, fire  district
    22  or  county, after   a public  hearing, adopts  a local law, ordinance or
    23  resolution providing therefore.  The governing body  of  the  applicable
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02708-01-5

        A. 2631                             2
 
     1  city,  village,  town,  school  district,  fire district or county shall
     2  determine the percentage of exemption provided for in this  subparagraph
     3  within  such  local  law,  ordinance,  or resolution, provided that such
     4  exemption  shall  not  exceed six thousand dollars or the product of six
     5  thousand dollars multiplied by the latest state  equalization  rate  for
     6  the  assessing  unit,  or  in the case of a special  assessing unit, the
     7  latest class ratio, whichever is less.
     8    (b) (i) In addition to the exemption provided by paragraph (a) of this
     9  subdivision, where the veteran served in a combat theatre or combat zone
    10  of operations, as documented by the award of a  United  States  campaign
    11  ribbon  or  service medal, or the armed forces expeditionary medal, navy
    12  expeditionary medal, marine corps expeditionary medal, or global war  on
    13  terrorism expeditionary medal, qualifying residential real property also
    14  shall  be  exempt  from  taxation  to  the  extent of ten percent of the
    15  assessed value of such property; provided, however, that such  exemption
    16  shall not exceed eight thousand dollars or the product of eight thousand
    17  dollars multiplied by the latest state equalization rate for the assess-
    18  ing  unit,  or in the case of a special assessing unit, the class ratio,
    19  whichever is less.
    20    (ii) In addition to the exemption provided by paragraph  (a)  of  this
    21  subdivision and the exemption provided by subparagraph (i) of this para-
    22  graph,  where  more  than  one veteran, qualifying under this paragraph,
    23  lives in the same household, qualifying residential real  property  also
    24  may  be  exempt from taxation to the extent of up to five percent of the
    25  assessed value of such property; provided, however, that such additional
    26  exemption shall not exceed four thousand dollars or the product of  four
    27  thousand  dollars  multiplied  by the latest state equalization rate for
    28  the assessing unit, or in the case of  a  special  assessing  unit,  the
    29  latest  class  ratio, whichever is less provided that the governing body
    30  of a city, village, town, school  district,  fire  district  or  county,
    31  after   a public  hearing,  adopts  a local law, ordinance or resolution
    32  providing therefore.    The  governing  body  of  the  applicable  city,
    33  village,  town, school district, fire district or county shall determine
    34  the percentage of exemption provided for  in  this  subparagraph  within
    35  such  local  law, ordinance, or resolution, provided that such exemption
    36  shall not exceed four thousand dollars or the product of  four  thousand
    37  dollars multiplied by the latest state equalization rate for the assess-
    38  ing  unit, or in the case of a special  assessing unit, the latest class
    39  ratio, whichever is less.
    40    § 2. This act shall take effect on the first of January next  succeed-
    41  ing the date on which it shall have become a law.
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