Loading chat...
NY A04708
Bill
Status
2/4/2025
Primary Sponsor
Christopher Eachus
Click for details
AI Summary
-
Creates a new real property tax exemption for members of U.S. Armed Forces reserve components who are ordered to active duty by the president
-
Exemption applies to city, village, town, special district, or county taxes (excluding special assessments) only if the local governing body adopts a local law, ordinance, or resolution after a public hearing
-
Property must be the primary residence of the reservist or spouse and used exclusively for residential purposes; mixed-use properties receive partial exemption for the residential portion only
-
Reservist must have maintained active duty status for at least 90 consecutive days within the preceding calendar year to qualify
-
Takes effect immediately and applies to assessment rolls based on taxable status dates occurring on or after January 1, 2027
Legislative Description
Authorizes a real property tax exemption for certain eligible reservists upon adoption of a local law, ordinance or resolution providing therefor; requires property of such eligible reservists to be the primary residence; requires such reservist must have retained active duty status for at least 90 consecutive days to claim such tax exemption.
Last Action
referred to real property taxation
1/7/2026