NY S05442

Authorizes counties, cities, towns, and villages to adopt local laws providing a 15% property tax exemption (up to $12,000) for residential property owned by active military service members stationed in New York.

Permits an additional 10% exemption (up to $8,000) for service members who performed active duty in a combat zone during the taxable year, documented by military orders or commanding officer certification.

Exemptions apply only to non-school property taxes and are unavailable to service members already receiving exemptions under sections 458, 458-a, or 458-b of the real property tax law.

Requires annual reapplication by property owners on forms prescribed by the state board, filed with the assessor's office by the taxable status date; willfully false statements subject to penal law penalties.

Municipalities may repeal the exemption by local law at least 90 days prior to the taxable status date; effective January 2 following enactment.