Bill > A05776

This bill establishes a property tax exemption for military reservists and their families, providing several layers of potential tax relief for qualifying residential real property. The bill defines a "reservist" as any member of the federal reserve force, whether or not they were ordered to active duty, and creates multiple exemption levels. The first exemption level provides a 15% tax exemption up to $12,000, with additional exemptions for reservists who served in combat zones (an extra 10% exemption up to $8,000) and for those with service-connected disabilities (an exemption up to 50% of their disability rating, maxing out at $40,000). The exemption applies to county, city, town, and village taxation, but not to school taxes, and local governments can adjust the maximum exemption amounts. Reservists, their spouses, and unremarried surviving spouses can qualify, and the bill also allows local governments to optionally extend the exemption to "Gold Star Parents" - parents of service members who died in the line of duty. To receive the exemption, applicants must file an initial application with the local assessor, after which the exemption continues automatically unless their disability rating changes or other qualifying factors shift. The bill provides detailed provisions for how the exemption is calculated, transferred, and administered across different types of residential properties.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5776