Bill > A05578

This bill extends real property tax exemptions for veterans by modifying existing tax law to include veterans who served on submarines or on classified missions during a period of war, provided such service is documented by military service records. Currently, veterans can receive a property tax exemption of up to ten percent of their property's assessed value if they served in a combat theatre or zone and were awarded specific campaign ribbons or medals. The new provision would add submarine service and classified mission service to the list of qualifying military experiences, allowing these veterans to also receive the same tax exemption. The exemption remains capped at eight thousand dollars or the equivalent amount based on the local state equalization rate, whichever is less. This change aims to recognize and provide financial relief to veterans who may have served in critical but less publicly recognized roles during wartime, ensuring they receive similar tax benefits as those awarded traditional combat service medals.

Military Affairs and Security

https://www.nysenate.gov/legislation/bills/2025/A5578