NY A07957

Defines "active member of the military" as any person currently serving in active military, naval, or air service, documented by annual filing of a statement of service or copy of active duty orders with the local tax assessor

Extends existing veterans property tax exemptions to active military members, including exemptions for combat service (up to $8,000 or state equalization rate equivalent) and service-connected disabilities (up to $40,000 or class ratio equivalent)

Requires active military members to annually refile their statement of service or active duty orders to maintain the exemption, unlike veterans who only file once

Allows active military members and their spouses to qualify for the same residential property tax exemptions as veterans and surviving spouses

Permits municipalities to transfer and prorate tax exemptions when active military members or veterans sell property and purchase new property within the same city, town, or village