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NY A02545
Bill
Status
1/20/2017
Primary Sponsor
Gary Pretlow
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AI Summary
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Exempts primary residences of military members engaged in hazardous service (duty subject to hostile fire or imminent danger) from municipal taxes, except school district and special assessments.
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Applies to active duty military members or their spouses who own the exempt property as their primary residence.
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Requires annual application to local assessing units by the taxable status date, with affirmation of hazardous service status during the current or immediately preceding year.
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Makes the state responsible for compensating municipalities for lost tax revenue from exempted properties through a state aid payment system administered by the commissioner.
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Takes effect 120 days after enactment and applies to properties with taxable status dates on or before that date.
Legislative Description
Establishes a real property tax exemption for the primary residence of a member of the armed forces engaging in hazardous service; the state shall compensate municipalities for lost tax revenue resulting from such exemption.
Last Action
referred to veterans' affairs
1/3/2018