NY A09875

Establishes a 15 percent property tax exemption for real property owned by active military members and their spouses, capped at $12,000 or the product of $12,000 multiplied by the state equalization rate, whichever is less.

Exemption applies to city, village, town, school district, fire district, and county taxes, but requires local governing bodies to adopt a local law, ordinance, or resolution after a public hearing to implement the exemption.

Requires applicant's primary residence to be in the jurisdiction, the property to be used exclusively for residential purposes, and the applicant to have been certified as an active military member by their military branch for at least four years.

Defines "active military service" as full-time duty in the U.S. Army, Navy (including Marine Corps), Air Force, or Coast Guard, and requires applicants to file on the appropriate taxable status date with continued eligibility verified upon reapplication.

Takes effect January 1 following enactment and applies to all taxable status dates occurring on or after that date.