Local law · Int 0740-2024

Establishing a real property tax exemption for Cold War veterans

Official titleShow

A Local Law to amend the administrative code of the city of New York, in relation to establishing a real property tax exemption for Cold War veterans

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

Latest action Dec 15, 2025

New York City Council

Sponsor

David M. Carr

Council Member, District 50 · Republican

Summary

This bill would establish a real property tax exemption for Cold War veterans, defined as persons who served on active duty in the United States armed forces for some period between September 2, 1945 and December 26, 1991 and were honorably discharged or released. The exemption would apply to the veteran’s primary residence, or to the primary residence of the unremarried surviving spouse of the veteran, to the extent that the residence is being used for residential purposes. Fifteen percent of the assessed value of the residential property would be exempt, up to $48,000 or $48,000 multiplied by the latest class ratio, whichever is less. Cold War veterans who were disabled as a result of their service would be eligible for an additional exemption, up to $160,000 or $160,000 multiplied by the latest class ratio, whichever is less.

Summary from NYC Council (Legistar). How we handle summaries

From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Aug 1, 2026. About our data

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Where it stands

Became law without the Mayor's signature.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

Committee

Committee on Finance

Cosponsors

Justin L. Brannan, Robert F. Holden and 14 others

Cosponsors in the order the New York City Council lists them.

Democratic9
Republican4

This bill has cosponsors from more than one party.

Party is shown for the 13 cosponsors who are on Agora.

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Show the full list (16 names)

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Recorded votes

Vote: Approved by Committee
Committee on FinanceNov 12, 2025Result: passed
(12) (0) (2) (3)
Vote: Approved by Council
NYC CouncilNov 12, 2025Result: passed
(45) (0) (0) (5)

Full history

Dec 15, 2025
Returned unsigned by the Mayor
This Introduction was Returned Unsigned by Mayor
NYC Council
Dec 12, 2025
Adopted
This Introduction was City Charter Rule Adopted
Administration
Dec 2, 2025
Hearing held
This Introduction was Hearing Scheduled by Mayor
Mayor
Nov 12, 2025
Committee vote
A motion was made that this Introduction be Approved by Committee approved by Roll Call.
Committee on Finance
Nov 12, 2025
Passed a chamber
A motion was made that this Introduction be Approved by Council approved by consent Roll Call.
NYC Council

Show full history (8 earlier events)

Nov 12, 2025
Amended
This Introduction was Amended by Committee
Committee on Finance
Nov 12, 2025
This Introduction Was Amendment Proposed by Comm
This Introduction was Amendment Proposed by Comm
Committee on Finance
Nov 12, 2025
Hearing held
This Introduction was Hearing Held by Committee
Committee on Finance
Nov 12, 2025
Sent to the executive
This Introduction was Sent to Mayor by Council
NYC Council
Oct 30, 2025
Hearing held
This Introduction was Hearing Held by Committee
Committee on Finance
Oct 30, 2025
Held over
This Introduction was Laid Over by Committee
Committee on Finance
Apr 11, 2024
Introduced
This Introduction was Introduced by Council
NYC Council
Apr 11, 2024
Referred to committee
This Introduction was Referred to Comm by Council to the Committee on Finance
NYC Council