NY S06171

Creates a five percent real property tax exemption for active duty members of the U.S. Army, Navy, Marine Corps, Air Force, or Coast Guard who have served overseas during armed conflict.

Applies only to primary residences used exclusively for residential purposes; non-residential portions of properties remain taxable.

Requires counties, cities, towns, and villages to adopt local laws or ordinances to implement the exemption, which cannot be combined with other military tax exemptions or abatements.

Mandates annual applications to local assessors that include proof of active duty military service and a statement that the qualified owner resides at the property.

Takes effect immediately and applies to assessment rolls prepared on or after January 1 following the bill's enactment.