NY A07036

Creates a new exemption against local school property taxes for veterans with service-connected disabilities who qualify for existing real property tax exemptions under sections 458 or 458-a of the Real Property Tax Law.

Exemption percentage is based on the veteran's disability rating, ranging from 5% exemption for 10% disability rating to 50% exemption for 100% disability rating.

Modifies existing law to clarify that veterans with service-connected disabilities are exempt from school property taxes, while other exemption categories remain taxable for school purposes.

Applications for the exemption must be submitted in a manner and form determined by the State Commissioner.

Takes effect immediately and applies to assessment rolls prepared on or after the effective date.