NY A05636

Expands the definition of "period of war" under the real property tax law to include the war on terrorism that commenced in 2001, encompassing hostilities in Afghanistan and Iraq.

Allows municipalities to pass local laws permitting late applications for the veterans alternative property tax exemption from owners on active duty who missed the taxable status date deadline.

Requires owners filing late exemption applications to submit documentation within 30 days of military separation or within 30 days of the local law's passage, whichever is later.

Maintains the existing provision that exemptions continue automatically in subsequent tax years without annual refiling, unless disability percentage or other qualifying factors change.