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NY A06520
Bill
Status
Introduced
3/26/2015
Primary Sponsor
Michael Cusick
Click for details
AI Summary
- Adds Section 458-C to Real Property Tax Law authorizing counties, cities, towns, and villages to adopt local laws providing real property tax exemptions for qualifying properties
- Exemption applies to residential property owned by persons who performed active duty in the armed forces during a combat zone deployment in the taxable year, equal to 10 percent of assessed value
- Exemption limited to primary residences only; any portion used for non-residential purposes is excluded from the exemption
- Exemption cannot apply to taxes levied for school purposes
- Exemption requires application to the Commissioner with required information and takes effect immediately for properties with taxable status dates on or after the effective date
Legislative Description
Authorizes municipalities to offer a real property tax exemption for property owned by certain persons performing active duty in a combat zone in an amount equal to ten percent of the assessed value of the real property.
Last Action
referred to veterans' affairs
1/6/2016
Committee Referrals
Veterans' Affairs3/26/2015
Full Bill Text
No bill text available