NY A03969

Exempts veteran alternative property tax exemptions from affecting state education aid calculations, school district debt limits, tax levies, tax rates, and tax apportionment formulas.

Requires assessors to record exempted assessed values in a separate column on assessment rolls alongside taxable property.

Makes tax savings from veteran exemptions a state charge, payable to school districts through application to the commissioner with state aid computed and certified by the commissioner of education.

Limits veteran exemption eligibility to veterans, spouses of veterans, or unremarried surviving spouses earning less than $500,000 annually in combined household income.

Takes effect immediately and applies to taxable years beginning January 1, 2022.