NY A00156

Removes the state equalization rate calculation requirement from veterans' real property tax exemptions, establishing fixed dollar caps instead: $12,000 for basic veteran exemption, $8,000 for combat service exemption, and $40,000 for disability rating exemption

Maintains the basic 15% exemption on assessed value for all qualifying veterans, capped at $12,000

Maintains the additional 10% exemption for veterans who served in designated combat zones (documented by specific military ribbons or medals), capped at $8,000

Maintains the additional exemption for veterans with service-connected disabilities rated by the VA or Department of Defense, calculated as 50% of disability rating multiplied by assessed value, capped at $40,000

Takes effect immediately upon enactment