New York State Real Estate Salesperson Licensing Exam

Who is typically not usually exempt from property taxes?

1. Disabled individuals

2. Veterans

3. Farmers

4. Second home owners

The correct answer is: Second home owners

The correct choice highlights that second home owners are typically not exempt from property taxes. In New York State, property tax exemptions are often designed to provide relief or benefits to specific groups, such as disabled individuals, veterans, and farmers, who may have unique circumstances that warrant such breaks. Disabled individuals may qualify for a range of exemptions aimed at assisting them with financial burdens. Veterans can also benefit from specific exemptions that recognize their service to the country and help ease the financial load of property ownership. Farmers might be eligible for agricultural exemptions if they meet certain criteria related to their land use, especially if the property is actively producing agricultural products. In contrast, second home owners do not fall into these categories and thus face the standard property tax obligations. Owning a second home is generally viewed as a discretionary purchase, and as such, those properties are subject to the same tax assessments as any primary residences without special exemptions. This reflects the understanding that property taxes are a critical revenue source for local governments, and valuable benefits are reserved for those in certain qualifying situations.