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NY A04092
Bill
Status
1/30/2013
Primary Sponsor
Gary Pretlow
Click for details
AI Summary
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Exempts primary residences owned by active-duty military members engaged in hazardous service (duty subject to hostile fire or imminent danger) from municipal property taxes, except school district taxes and special assessments.
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Requires annual application to local assessing units on or before the taxable status date, with affirmation that the owner is or was engaged in hazardous service during the preceding year.
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Establishes state reimbursement to municipalities for all property taxes lost due to the exemption, with the Commissioner computing and certifying amounts to the Comptroller for payment.
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Allows the Commissioner to audit applications within one year and adjust subsequent payments if municipalities received incorrect reimbursement amounts.
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Takes effect 120 days after enactment and applies to properties with taxable status dates on or before that date.
Legislative Description
Establishes a real property tax exemption for the primary residence of a member of the armed forces engaging in hazardous service; the state shall compensate municipalities for lost tax revenue resulting from such exemption.
Last Action
referred to veterans' affairs
1/8/2014