Bill > A05766

This bill authorizes municipalities in New York to offer a real property tax exemption of up to 15% of the assessed value, but not exceeding $12,000, for property owned by individuals who are performing active duty in a combat zone. The exemption is available to qualified owners, defined as active military members whose residence is within New York state. The bill also allows municipalities to provide an additional 10% exemption, up to $8,000, for active duty service members who have served in a combat zone during the taxable year. The exemptions apply to county, city, town, or village taxes, but not school taxes. Eligible individuals must apply annually for the exemption, and anyone making false statements on the application can face criminal penalties. The local law authorizing the exemption can be repealed by the governing body at least 90 days prior to the taxable status date.