Bill > A04110

This bill modifies real property tax exemptions specifically for veterans living in cities with populations of one million or more, which effectively means New York City. The bill reduces the maximum tax exemption amounts for veterans in these large cities. For example, the current law allows veterans to exempt up to 15% of their property's assessed value (with a maximum of $12,000), but in New York City, this would be reduced to 6% with a maximum of $4,800. Similar reductions are applied to additional exemptions for veterans who served in combat zones or have service-connected disabilities. The bill also expands the definition of "periods of war" for veterans in these large cities to explicitly include the Iraq and Afghanistan wars. The changes would apply to property tax assessment rolls with a taxable status date on or after the fifth day of January following the bill becoming law, and any existing exemptions would be recalculated under the new provisions. The primary intent appears to be adjusting veteran property tax benefits to a more limited scale specifically for large urban areas like New York City.

Military Affairs and Security

https://www.nysenate.gov/legislation/bills/2025/A4110