New York Senate Bill S01788

New York 2025-2026 Regular Session

• Introduced: 1/13/25
• Refer: 1/13/25
• Engrossed: 5/19/25
• Refer: 5/19/25
• Refer: 1/7/26
• Engrossed: 2/9/26
• Refer: 2/10/26
• Refer: 2/9/26

Caption

Extends eligibility for real property tax exemptions to certain veterans.

Summary

S01788 would expand New York’s veterans’ real property tax exemption by adding two new categories of qualifying service: veterans who served on a submarine and veterans who served on classified missions during a period of war, as documented by military service records. Under current law, the additional exemption applies to veterans who served in a combat theatre or combat zone and can document that service through specified campaign ribbons, medals, or expeditionary awards. The bill keeps the existing structure of the exemption and adds these additional service-based eligibility paths. The exemption remains limited to 10 percent of the assessed value of qualifying residential property, subject to a cap of $8,000 or a lower amount based on the local equalization rate or class ratio, whichever is less. The bill would take effect immediately upon enactment, meaning eligible veterans could seek the expanded exemption without a delayed implementation period.

Impact

This bill would amend section 458-a of the Real Property Tax Law, broadening the pool of veterans who may qualify for the state’s additional property tax exemption. It would affect local property tax assessments by allowing a larger set of veterans to reduce the taxable assessed value of their primary residential property, which could modestly reduce local tax revenues while increasing tax relief for eligible veterans and their families.

Sentiment

The available voting history shows strong, unanimous support in the Senate Veterans, Homeland Security and Military Affairs Committee and on the Senate floor, with no recorded opposition in either vote. The bill’s caption and the absence of negative votes suggest broad bipartisan support for expanding tax relief to additional veterans. No committee transcript is available, so the record does not show detailed debate or objections.

Contention

There is little visible contention in the available record because the bill passed committee and the Senate floor unanimously. The main policy question is whether eligibility for the veterans’ property tax exemption should be expanded beyond combat-zone service to include submarine service and classified wartime missions, with documentation based on military records rather than campaign medals alone. Any concerns would likely center on administrative verification of service and the fiscal impact on local taxing jurisdictions, but no specific opposition is reflected in the provided materials.