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NY A08532
Bill
Status
1/26/2024
Primary Sponsor
Amanda Septimo
Click for details
AI Summary
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Amends real property tax law to allow municipalities to establish an adjustment percentage applied to exemption schedules for permanent partial disability exemptions after holding a public hearing.
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Adjustment percentage must be set between 50 percent and 100 percent of the exemption percentage schedule.
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Applies only to exemptions based on permanent partial disability awards; permanent total disability exemptions remain unchanged.
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Takes effect on the same date as the 2023 legislation (S. 2574 and A. 7164) that established tax exemptions for persons with disabilities.
Legislative Description
Allows municipalities to adopt a local law or resolution to establish an adjustment percentage to be applied to the exemption percentage schedule for certain exemptions based upon permanent partial disabilities, after a public hearing.
Last Action
signed chap.6
1/26/2024