Establishes a property tax exemption for police officers in New York State.

The bill amends the real property tax law to create a tax exemption for residential properties owned by police officers who serve in New York State. The exemption applies to 15% of the property's assessed value, up to a maximum of $12,000 or the lesser of $12,000 multiplied by the latest state equalization rate or the latest class ratio. This exemption is available to counties, cities, towns, and villages but does not apply to school taxes. Local governments can adopt this exemption through local laws, which can be repealed with at least 90 days' notice before the taxable status date.

Establishes a property tax exemption for police officers in New York State.

The bill amends the real property tax law to create a tax exemption for residential properties owned by police officers who serve in New York State. The exemption applies to 15% of the property's assessed value, up to a maximum of $12,000 or the lesser of $12,000 multiplied by the latest state equalization rate or the latest class ratio. This exemption is available to counties, cities, towns, and villages but does not apply to school taxes. Local governments can adopt this exemption through local laws, which can be repealed with at least 90 days' notice before the taxable status date.