NY A03889

Allows municipalities to adopt local laws enabling veterans who meet existing exemption requirements to apply for real property tax exemptions when purchasing property after the taxable status date or after taxes are levied.

Requires veterans to file exemption applications with the assessor within 30 days of transferring title, with the assessor determining if the property would have qualified for exempt status on the original tax roll.

Establishes a pro rata tax credit system where municipalities calculate and apply exemption credits based on the fraction of the fiscal year remaining after the property transfer occurs.

Sets specific timelines requiring assessor determinations within 30 days and Board of Assessment Review hearings within 30 days of applicant complaints, with appeal rights preserved under state law.

Takes effect 60 days after enactment.