Bill > A06984

This bill amends the real property tax law to provide an additional property tax exemption for certain disabled veterans. Specifically, the bill introduces a new provision that guarantees veterans who have received a 100% permanent and total service-connected disability rating will have the first six thousand dollars of their property tax assessment completely exempted, regardless of their total property tax assessment. This is an expansion of existing tax exemption rules for veterans with service-connected disabilities. The current law already allows for partial property tax exemptions based on a veteran's disability rating, with a maximum exemption of forty thousand dollars or the equivalent based on the state equalization rate. The bill clarifies that veterans who died in service due to a service-connected disability will be considered as having a 100% compensation rating. The new tax exemption will take effect on the first day of January following the bill's passage and will apply to assessment rolls prepared with taxable status dates on or after that date, providing immediate financial relief to qualifying disabled veterans.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A6984