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NY A01627
Bill
Status
1/16/2019
Primary Sponsor
Gary Pretlow
Click for details
AI Summary
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Exempts primary residences owned by active duty military members engaged in hazardous service (duty subject to hostile fire or imminent danger) from municipal property taxes, except school district and special assessments.
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Requires annual application on a form prescribed by the commissioner to the local assessing unit by the taxable status date, with affirmation of current or prior-year hazardous service.
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Makes lost tax revenue from exempted properties a state charge payable to municipalities through the comptroller upon commissioner approval of state aid applications.
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Requires tax rates to be calculated as if no parcels are exempt under this section, ensuring municipal funding levels remain unchanged.
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Takes effect 120 days after becoming law and applies to properties with a taxable status date on or before the effective 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
1/8/2020