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

This bill amends the real property tax law to create a tax exemption for police officers in New York State. The exemption applies to the primary residence of a police officer, up to 15% of the assessed valuation or $12,000, whichever is less. Local legislative bodies or school districts can reduce the exemption percentage or maximum assessed valuation. The bill also outlines the definition of "police officer" and the terms "latest state equalization rate" and "latest class ratio." The exemption applies to real property held in trust for eligible individuals.

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

This bill amends the real property tax law to create a tax exemption for police officers in New York State. The exemption applies to the primary residence of a police officer, up to 15% of the assessed valuation or $12,000, whichever is less. Local legislative bodies or school districts can reduce the exemption percentage or maximum assessed valuation. The bill also outlines the definition of "police officer" and the terms "latest state equalization rate" and "latest class ratio." The exemption applies to real property held in trust for eligible individuals.