NY A08857

Allows county, city, town, or village governing bodies to adopt local laws granting real property tax exemptions to parents of unmarried veterans killed in combat.

Provides two exemption options: (i) ten percent of assessed value up to $8,000 (or $8,000 multiplied by the latest state equalization rate), or (ii) fifteen percent of assessed value up to $12,000 (or $12,000 multiplied by the latest state equalization rate).

Exemptions apply only to the parents' primary residence used exclusively for residential purposes and are granted for a ten-year period.

Requires local law adoption by December 31, 2020, with at least ninety days' notice before the next taxable status date, and allows governing bodies to repeal the exemption with similar advance notice.

Requires property owners to file an application with the assessor's office on or before the first appropriate taxable status date; applications do not need annual renewal unless disability percentage or other qualifying circumstances change.