Bill > A00515

This bill provides a local tax exemption option for municipalities to reduce property taxes by 5% for qualifying U.S. military National Guard members and Reserves members. The bill defines a "qualified owner" as an active or retired National Guard or Reserves member, and "qualifying residential real property" as their primary residential property used exclusively for residential purposes. Municipalities can choose to adopt this exemption through local laws or ordinances, but the exemption cannot be combined with other existing military tax exemptions. To qualify, the property owner must submit an annual application to the local assessor, including a twenty-year favorable service letter from the U.S. Department of Defense. If the property is partially used for non-residential purposes, only the residential portion would be eligible for the tax exemption. When multiple qualified owners co-own a property, they can combine their exemption amounts. The bill aims to provide a modest tax relief benefit for military service members at the discretion of local government bodies.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A515