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NY A03701
Bill
Status
Introduced
1/28/2009
Primary Sponsor
Susan John
Click for details
AI Summary
- Amends Real Property Tax Law sections 458 and 458-a to expand the geographic scope for veteran property tax exemption transfers from "city, town or village" to "county"
- Allows municipalities to adopt local laws permitting veterans, their spouses, or unremarried surviving spouses to transfer and prorate their property tax exemption when selling property and purchasing new property within the same county
- Requires the prorated exemption to be calculated based on the date title is obtained for the new property, multiplying the applicable tax rate by the previously granted exempt amount by the fraction of the fiscal year remaining after transfer
- Mandates that veterans and eligible spouses reapply for the exemption by the following taxable status date if they wish to continue receiving it in future fiscal years
- Takes effect immediately and applies to taxes levied based on the 2010 assessment roll in approved assessing units
Legislative Description
Relates to prorating a veteran's exemption if such veteran moves within the same county.
Last Action
print number 3701a
1/21/2010
Committee Referrals
Veterans' Affairs1/28/2009
Full Bill Text
No bill text available