NY A06577

Expands the definition of "period of war" in the real property tax law to include the war on terrorism beginning in 2001, specifically including hostilities in Afghanistan and Iraq.

Allows cities, counties, towns, and villages to adopt local laws permitting late applications for the veterans alternative property tax exemption from veterans who were on active duty on the original tax status date.

Requires late applicants to file for exemption within 30 days of separation from active duty service or within 30 days of the local law's passage, whichever is later, and to submit proof of active duty service.

Maintains that once approved, the exemption continues in full force for subsequent tax years without requiring annual refiling, unless disability percentage or other qualifying circumstances change.

Takes effect immediately upon enactment.