Authorizes municipalities to offer a real property tax exemption for active military service members who at any time during the taxable year performed active duty in the armed forces in a combat zone; defines terms; makes related provisions.
Summary
Bill A06579 proposes to amend the real property tax law in New York to provide a tax exemption for active military service members who have served in a combat zone. This exemption allows municipalities to offer a reduction of up to 25% of the assessed value of qualifying residential properties owned by these service members, with a maximum exemption amount not exceeding $20,000 or the product of $20,000 multiplied by the latest state equalization rate, whichever is lower. The bill defines key terms such as 'active military service member,' 'combat zone,' and 'qualified owner' to clarify eligibility criteria for the exemption.
Impact
If enacted, this bill would enable local governments in New York to provide financial relief to active military service members by reducing their property tax burden. The exemption would apply to residential properties and would not affect taxes levied for school purposes. This change could lead to a significant decrease in property tax revenues for municipalities, necessitating adjustments in local budgets and funding allocations.
Sentiment
The sentiment around Bill A06579 appears to be overwhelmingly positive, as evidenced by the unanimous votes in favor from various committees, including the Assembly Veterans' Affairs Committee and the Assembly Ways and Means Committee. The discussions indicate strong support for providing benefits to military service members, reflecting a commitment to honor their service.
Contention
There are no notable points of contention surrounding this bill as it has received unanimous support in committee votes. However, potential concerns could arise regarding the fiscal impact on local governments and the administration of the exemption process, particularly in larger municipalities with more complex tax structures.
Same As
Authorizes municipalities to offer a real property tax exemption for active military service members who at any time during the taxable year performed active duty in the armed forces in a combat zone; defines terms; makes related provisions.
Authorizes municipalities to offer a real property tax exemption for combat zone service members who at any time during the taxable year performed active duty in the armed forces in a combat zone; defines terms; makes related provisions.
Authorizes municipalities to offer a real property tax exemption for combat zone service members who at any time during the taxable year performed active duty in the armed forces in a combat zone; defines terms; makes related provisions.
Authorizes municipalities to offer a real property tax exemption for active military service members who at any time during the taxable year performed active duty in the armed forces in a combat zone; defines terms; makes related provisions.
Increases the time that mortgage foreclosure notices are required to be provided to active military service members, from nine (9) months to one year, after completion of their active duty.
To provide that members of the Armed Forces performing services in Kenya, Mali, Burkina Faso, and Chad shall be entitled to tax benefits in the same manner as if such services were performed in a combat zone.
Property: land sales; sale or transfer of agricultural assets or land to foreign entities; prohibit. Amends title & secs. 35 & 36 of 1846 RS 66 (MCL 554.135 & 554.136) & adds secs. 36a & 36b.
An Act Prohibiting The Ownership, Possession Or Acquisition Of Interests In Real Property Upon Or Abutting Military Installations Or Agricultural Lands By Certain Foreign Entities.