Loading chat...
NY A02289
Bill
Status
1/25/2023
Primary Sponsor
Michael Norris
Click for details
AI Summary
-
Adds a supplemental real property tax exemption of $500 for qualified residential properties in addition to existing exemptions authorized under Real Property Tax Law section 458-b.
-
Allows counties, cities, towns, villages, and school districts to adopt local laws or resolutions to provide this supplemental exemption to qualified applicants.
-
Changes the duration of tax exemptions from a fixed ten-year period to indefinite duration, remaining in effect unless repealed by provisions in subdivision five of the section.
-
Modifies language regarding when exemptions take effect and continue, replacing references to "ten year period" with "exemption" and changing measurement language to "take effect."
-
Takes effect immediately upon enactment.
Legislative Description
Provides that each county, city, town or village may adopt a local law, and each school district may adopt a resolution, that provides qualified applicants with a supplemental exemption from taxation to the extent of five hundred dollars.
Last Action
referred to veterans' affairs
1/3/2024