Provides additional tax exemptions for two qualified veterans living in the same household

◆ The sponsor's argument

Why Jamaal Bailey says this is needed

By enlisting as a member of the armed forces a person chooses to place themselves in harm's way to protect our country and our freedoms. With the United States' ongoing involvement in Iraq and Afghanistan a soldier's enlistment means there is a significant chance of deployment. When a soldier is deployed there is a financial burden placed on the families they leave behind. This is a debt that their families may endure for years to come. New York State recognizes and rewards the soldiers who enlist and serve during a time of war by granting them an Alternative Veterans real prop- erty tax exemption. The Alternative Veterans Exemption is available only for residential property of veterans who served during wartime or received an expeditionary medal. This provides for an exemption of 15t of the assessed value to veterans who served during wartime and an addi- tional into those who served in a combat zone. Each county must opt-in to grant this alternative exemption. However, if two qualified veterans reside in the same household the exemption does not change or increase. This legislation will allow for an increase of the Alternative Veterans exemption for a household with two qualifying veterans. The new language provides for an addition of half of the current percentages allowed. Therefore, a household with two veterans who served during wartime would receive an exemption up to 22.540 of the assessed value of the property and an additional 15% if both veterans served in a combat zone. Each county must still opt-in to grant this alternative exemption. This legislation will Properly recognize and reward all veterans who have served their country and who own property in New York State.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.