NY A10490

Expands the definition of "qualified owner" under the veterans property tax exemption to include active duty service members of the United States armed forces, in addition to veterans and surviving spouses.

Requires that qualifying residential real property owned by active duty service members must be their primary residence, with exceptions for absence due to medical reasons or institutionalization.

Allows active duty service members who served in combat theatres or combat zones (as documented by military awards) to receive an additional 10% exemption on assessed value, capped at $8,000 or the state equalization rate equivalent.

Permits transfer and proration of exemptions when active duty service members sell property and purchase new property within the same county or city, with requirement to reapply by the following taxable status date.

Directs the commissioner of veterans' services to develop, in consultation with the Department of Defense, a list of acceptable military service documents (such as DD-214 forms) to establish eligibility, to be made available to local assessors and on state websites.