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NY S00592

Bill

Official Source

Status

Introduced

1/9/2013

Primary Sponsor

Michael Gianaris

Click for details

Origin

Senate

2013-2014 General Assembly

AI Summary

  • Increases the maximum real property tax exemption for veterans using eligible military service funds from $5,000 to $7,500
  • Applies to exemptions based on eligible funds paid for military or naval services rendered by an individual
  • Maintains existing rounding rules that round exemptions to the nearest $50 increment, or the next higher $50 multiple if no nearest multiple exists
  • Takes effect on July 1st following the date the bill becomes law
  • Does not affect other exemption provisions in subdivision five of the statute

Legislative Description

Increases the real property tax exemption a veteran may receive on real property purchased with eligible funds from $5,000 to $7,500 of the assessed value of such property.

Last Action

SUBSTITUTED BY A2124

6/20/2014

Committee Referrals

Rules6/20/2014
Veterans, Homeland Security and Military Affairs1/9/2013

Full Bill Text

No bill text available