Bill > A03199

This bill amends the Real Property Tax Law to modify the veterans' property tax exemption, specifically addressing how the exemption is applied to school district taxation. Currently, school districts could choose whether to adopt the veterans' exemption through a resolution, but the proposed bill eliminates this discretionary aspect and mandates that all school districts provide the veterans' alternative exemption. Importantly, the bill stipulates that the costs associated with this exemption for school districts will now be fully covered by the state, removing the financial burden from local school districts. The changes will take effect for assessment rolls prepared on or after January 1, 2026, which means property tax assessments starting in that year will be subject to the new requirements. By ensuring state funding for the exemption, the bill aims to make the veterans' property tax exemption more consistent and accessible across different school districts in New York, potentially providing more reliable tax relief for veterans.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A3199