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NY A00879
Bill
Status
Engrossed
6/2/2014
Primary Sponsor
Harry Bronson
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AI Summary
- Expands the geographic area within which veterans can transfer their property tax exemption from "city, town or village" to "county" (or "city" for cities with populations over one million)
- Requires the assessor to transfer and prorate the exemption for the remainder of the fiscal year when a veteran, veteran's spouse, or unremarried surviving spouse sells property and purchases new property within the expanded geographic area
- Calculates the prorated exemption by multiplying applicable tax rates by the previously granted exempt amount by the fraction of the fiscal year remaining after the property transfer
- Requires veterans receiving transferred exemptions to reapply for the exemption by the following taxable status date if they wish to receive it in future fiscal years
- Effective date is January 2 following enactment, applicable to assessment rolls prepared on or after that date
Legislative Description
Relates to prorating a veteran's exemption if such veteran moves within the same county, or in the case of a city having a population of one milion or more persons, within the same city.
Last Action
REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
6/2/2014
Committee Referrals
Veterans, Homeland Security and Military Affairs6/2/2014
Ways and Means5/20/2014
Veterans' Affairs1/9/2013
Full Bill Text
No bill text available