NY A05493

Removes dollar caps on three categories of veteran property tax exemptions, replacing them with flat dollar limits: $12,000 for basic veteran exemption (15% of assessed value), $8,000 for combat service exemption (10% of assessed value), and $40,000 for disability-rated veteran exemption (50% of disability rating percentage).

Maintains eligibility requirements for combat service exemption based on military campaign ribbons, service medals, expeditionary medals, or global war on terrorism expeditionary medals.

Maintains eligibility for disability exemption requiring a compensation rating from the U.S. Veterans Administration or Department of Defense for service-connected disabilities.

Deems veterans who died in service from a service-connected disability as having a 100% disability rating for exemption calculation purposes.

Takes effect immediately upon enactment.