New York S00696 authorizes a real property tax exemption for eligible reservists if local law is adopted.

New York S00696 amends the real property tax law to authorize a tax exemption for certain eligible reservists. This exemption applies to real property owned by the reservist or their spouse, provided it is their primary residence. The exemption is contingent on the local governing body adopting a law, ordinance, or resolution after a public hearing. To qualify, the reservist must have retained active duty status for at least 90 consecutive days. The exemption takes effect immediately and applies to assessment rolls from January 1, 2027, onward.

New York S00696 authorizes a real property tax exemption for eligible reservists if local law is adopted.

New York S00696 amends the real property tax law to authorize a tax exemption for certain eligible reservists. This exemption applies to real property owned by the reservist or their spouse, provided it is their primary residence. The exemption is contingent on the local governing body adopting a law, ordinance, or resolution after a public hearing. To qualify, the reservist must have retained active duty status for at least 90 consecutive days. The exemption takes effect immediately and applies to assessment rolls from January 1, 2027, onward.