Provides a tax exemption for U.S. military reservists and members of the National Guard.

New York S01868 amends the real property tax law to provide a tax exemption for U.S. military reservists and members of the National Guard. The exemption applies to qualifying residential real property, which must be the primary residence of the qualified owner. If the property is owned by more than one qualified owner, the exemption can be combined. The exemption is equal to five percent of the assessed value of the property. The exemption is not in addition to any other military exemption or abatement of taxes authorized by law.

Provides a tax exemption for U.S. military reservists and members of the National Guard.

New York S01868 amends the real property tax law to provide a tax exemption for U.S. military reservists and members of the National Guard. The exemption applies to qualifying residential real property, which must be the primary residence of the qualified owner. If the property is owned by more than one qualified owner, the exemption can be combined. The exemption is equal to five percent of the assessed value of the property. The exemption is not in addition to any other military exemption or abatement of taxes authorized by law.