Authorizes municipalities to offer a real property tax exemption for combat zone service members.

New York S08790 amends the real property tax law to authorize municipalities to offer a tax exemption for combat zone service members. The exemption applies to residential real property owned by a service member who performed active duty in a combat zone during the taxable year. The exemption is limited to 25% of the assessed value of the property, up to a maximum of $20,000 or the lesser of $20,000 multiplied by the latest state equalization rate or the class ratio for special assessing units. The exemption does not apply to school taxes.

Authorizes municipalities to offer a real property tax exemption for combat zone service members.

New York S08790 amends the real property tax law to authorize municipalities to offer a tax exemption for combat zone service members. The exemption applies to residential real property owned by a service member who performed active duty in a combat zone during the taxable year. The exemption is limited to 25% of the assessed value of the property, up to a maximum of $20,000 or the lesser of $20,000 multiplied by the latest state equalization rate or the class ratio for special assessing units. The exemption does not apply to school taxes.