NY A02758

Counties, cities, towns, and villages in New York may adopt local laws providing up to a $400 real property tax credit for qualifying residential real property owned by military reservists.

Eligible recipients include reservists with at least 10 years of service in the U.S. armed forces or New York organized militia who are in good standing or honorably discharged, as well as their spouses and non-remarried surviving spouses.

Multiple qualified owners of the same property may combine their tax credits, and non-remarried surviving spouses may receive both their own credit and the credit their deceased spouse was entitled to.

Owners already receiving an exemption under existing veterans' tax law (sections 458, 458-a, or 458-b) are ineligible for this credit.

The Department of Taxation and Finance must develop a uniform application for local assessors and publish supporting materials on its website; the tax credit applies to county, city, town, village, and special district taxes.