New York Assembly Bill A06532 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 6532 2025-2026 Regular Sessions  IN ASSEMBLY March 5, 2025 ___________ Introduced by M. of A. K. BROWN -- read once and referred to the Commit- tee on Real Property Taxation AN ACT to amend the real property tax law, in relation to establishing a real property tax exemption for spouses of police officers killed in the line of duty The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The real property tax law is amended by adding a new 2 section 471 to read as follows: 3 § 471. Spouses of police officers killed in the line of duty. 1. Real 4 property owned by a spouse of a police officer killed in the line of 5 duty, and constituting the primary residence of such spouse shall be 6 deemed fully exempt from all taxes imposed upon such property for city, 7 village, town, part town, special district or county purposes, provided 8 that the governing body of a city, village, town or county, after a 9 public hearing, adopts a local law, ordinance or resolution providing 10 therefor. 11 2. As used in this section, the term "police officer" shall have the 12 same meaning as defined in section 1.20 of the criminal procedure law. 13 3. Notwithstanding any other provision of law to the contrary, the 14 provisions of this section shall apply to any real property held in 15 trust solely for the benefit of a person or persons who would otherwise 16 be eligible for a real property tax exemption, pursuant to subdivision 17 one of this section, were such person or persons the owner or owners of 18 such real property. 19 4. (a) For the purposes of this section, title to that portion of real 20 property owned by a cooperative apartment corporation in which a 21 tenant-stockholder of such corporation resides and which is represented 22 by their share or shares of stock in such corporation as determined by 23 its or their proportional relationship to the total outstanding stock of EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10221-01-5 
 A. 6532 2 1 the corporation, including that owned by the corporation, shall be 2 deemed to be vested in such tenant-stockholder. 3 (b) Provided that all other eligibility criteria of this section are 4 met, that proportion of the assessment of such real property owned by a 5 cooperative apartment corporation determined by the relationship of such 6 real property vested in such tenant-stockholder to such real property 7 owned by such cooperative apartment corporation in which such tenant- 8 stockholder resides shall be subject to exemption from taxation pursuant 9 to this section and any exemption so granted shall be credited by the 10 appropriate taxing authority against the assessed valuation of such real 11 property; the reduction in real property taxes realized thereby shall be 12 credited by the cooperative apartment corporation against the amount of 13 such taxes otherwise payable by or chargeable to such tenant-stockhold- 14 er. 15 (c) Notwithstanding paragraph (b) of this subdivision, a tenant-stock- 16 holder who resides in a dwelling that is subject to the provisions of 17 either article two, four, five or eleven of the private housing finance 18 law shall not be eligible for an exemption pursuant to this section. 19 (d) Notwithstanding paragraph (b) of this subdivision, real property 20 owned by a cooperative apartment corporation may be exempt from taxation 21 pursuant to this section by a municipality in which such real property 22 is located only if the governing body of such municipality, after public 23 hearing, adopts a local law, ordinance or resolution providing therefor. 24 5. The commissioner shall develop in consultation with the commission- 25 er of the division of criminal justice services a listing of documents 26 to be used to establish eligibility under this section. Such information 27 shall be made available to each city, village, town, part town, special 28 district and county assessor's office. The listing of acceptable records 29 shall be made available on the internet websites of the division of 30 criminal justice services and the office of real property tax services. 31 § 2. This act shall take effect on the first of January next succeed- 32 ing the date on which it shall have become a law and shall apply to 33 taxable status dates occurring on or after such date.