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NY A01721
Bill
Status
1/11/2021
Primary Sponsor
Gary Pretlow
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AI Summary
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Grants a real property tax exemption for primary residences owned by active-duty military members engaged in hazardous service (duty subject to hostile fire or imminent danger as defined in federal law)
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Exemption applies to properties owned solely by the military member or jointly with their spouse, and excludes school district taxes and special assessments
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Requires annual application to the local assessing unit by the taxable status date, with the applicant affirming current or prior-year hazardous service
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State compensates municipalities for lost tax revenue from exempted properties through state aid, with tax rates determined as if no exemptions existed
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Takes effect 120 days after enactment, applying 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 engaged in hazardous service; the state shall compensate municipalities for lost tax revenue resulting from such exemption.
Last Action
referred to veterans' affairs
1/5/2022