NY A05766

Adds new section 458-d to the Real Property Tax Law to allow counties, cities, towns, and villages to adopt local laws providing real property tax exemptions for active military service members.

Exempts up to 15% of assessed value (maximum $12,000 or the product of $12,000 multiplied by the latest state equalization rate, whichever is less) for qualified residential property owned by active service members whose duty stations place their residence in New York State.

Provides an additional optional 10% exemption (maximum $8,000 or the product of $8,000 multiplied by the latest state equalization rate, whichever is less) for service members who performed active duty in a combat zone as documented by military orders or commanding officer letter.

Exemptions apply only to county, city, town, and village taxes—not school district taxes—and are not available to those already receiving exemptions under existing military service provisions.

Requires annual applications to be filed with the assessor's office by the appropriate taxable status date, with false statements subject to penalties under penal law; local laws may be repealed with at least 90 days' notice before the taxable status date.