New York S 7250: Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent

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S07250 Summary:

BILL NOS07250 

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SAME ASNo Same As

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SPONSORLANZA

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COSPNSR

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MLTSPNSR

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Amd §458-a, RPT L

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Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent.

Go to top S07250 Actions:

BILL NOS07250 

&nbsp

04/07/2025REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

01/07/2026REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

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There are no Assembly votes for this bill in this legislative session.

Go to topS07250 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7250

 2025-2026 Regular Sessions

 IN SENATE

 April 7, 2025
 ___________

 Introduced by Sen. LANZA -- read twice and ordered printed, and when
 printed to be committed to the Committee on Veterans, Homeland Securi-
 ty and Military Affairs

 AN ACT to amend the real property tax law, in relation to real property
 tax exemptions for combat veterans

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph (b) of subdivision 2 of section 458-a of the real
 2 property tax law, as amended by chapter 473 of the laws of 2004, is
 3 amended to read as follows:
 4 (b) In addition to the exemption provided by paragraph (a) of this
 5 subdivision, where the veteran served in a combat theatre or combat zone
 6 of operations, as documented by the award of a United States campaign
 7 ribbon or service medal, or the armed forces expeditionary medal, navy
 8 expeditionary medal, marine corps expeditionary medal, or global war on
 9 terrorism expeditionary medal, qualifying residential real property also
 10 shall be exempt from taxation to the extent of [ten] thirty-five percent
 11 of the assessed value of such property; provided, however, that such
 12 exemption shall not exceed [eight] forty thousand dollars or the product
 13 of [eight] forty thousand dollars multiplied by the latest state equal-
 14 ization rate for the assessing unit, or in the case of a special assess-
 15 ing unit, the class ratio, whichever is less.
 16 § 2. This act shall take effect immediately and shall apply to assess-
 17 ment rolls prepared on or after January 1, 2026.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11463-01-5

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