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NY A02631
Bill
Status
1/21/2025
Primary Sponsor
Nader Sayegh
Click for details
AI Summary
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Allows households with two or more qualifying veterans to receive an additional property tax exemption of up to 7.5% of assessed value (capped at $6,000) on top of the standard 15% veteran exemption
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Provides combat veterans in multi-veteran households an additional exemption of up to 5% of assessed value (capped at $4,000) beyond the standard 10% combat zone service exemption
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Requires local governing bodies (cities, villages, towns, school districts, fire districts, or counties) to adopt the additional exemption through a local law, ordinance, or resolution following a public hearing
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Local governments determine the specific percentage of the additional exemption within the statutory caps
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Takes effect January 1 of the year following enactment
Legislative Description
Provides additional tax exemptions on qualifying residential real property where two or more qualified veterans live in the same household.
Last Action
reported referred to ways and means
2/25/2026