NY A03928

Increases the maximum exemption for qualifying residential real property owned by veterans from 12 thousand dollars to 15 thousand dollars (or the product multiplied by the state equalization rate, whichever is less)

Increases the maximum exemption for veterans who served in combat theatres or combat zones from 8 thousand dollars to 10 thousand dollars (or the product multiplied by the state equalization rate, whichever is less)

Increases the maximum exemption for veterans with service-connected disabilities rated by the VA or Department of Defense from 40 thousand dollars to 50 thousand dollars (or the product multiplied by the state equalization rate, whichever is less)

Authorizes local governments (counties, cities, towns, villages) to adopt local laws to reduce or increase the maximum exemption amounts within specified ranges, with "high-appreciation municipalities" eligible for the highest exemption levels

Takes effect immediately and applies to taxes levied on assessment rolls completed on or after July 1, 2002