NY A07704

Expands eligibility for alternative veterans property tax exemption to include persons currently engaged in active military service of the United States, not just veterans.

Allows active military personnel serving in combat theatres or combat zones to receive an additional ten percent exemption on assessed property value, capped at $8,000 or the state equalization rate amount, whichever is less.

Permits active military personnel with service-connected disabilities to receive exemptions based on their disability rating, up to a maximum of $40,000 or the state equalization rate amount, whichever is less.

Requires active military service members to refile their statement of service or active duty orders annually to maintain exemption eligibility, unlike veterans who do not need to refile each year.

Takes effect January 1 following enactment and applies to assessment rolls prepared on or after the effective date.