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History
- Referred to aging
- Referred to aging
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increases maximum income eligibility levels for real property tax exemptions for seniors
In Assembly Committee · Aging · Sponsor Steven Englebright
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to increasing maximum income eligibility levels for real property tax exemptions for seniors
Purpose or general idea of the bill
To increase the local option income levels for a senior citizen partial exemption from real property taxes gradually, over a five year period
Summary of provisions
This bill amends section 467 of the real property tax law, to allow an increase at local option in the senior income levels eligible for sliding scale partial tax exemptions, as follows:
On and after July 1, 2010, the largest partial exemption (45%) would be the allowable income for the complete exemption plus $1,250, and the smallest (5%) would be income plus $10,500.
On and after July 1, 2011, the largest partial exemption (45%) would be the allowable income for the complete exemption plus $1,500, and the smallest (5%) would be income plus $12,600.
On and after July 1, 2012, the largest partial exemption (45%) would be the allowable income for the complete exemption plus $1,750, and the smallest (5%) would be income plus $14,750.
On and after July 1, 2013, the largest partial exemption (45%) would be the allowable income for the complete exemption plus $2,000, and the smallest (5%) would be income plus $16,800.
Justification
The full senior RPT exemption, of 50%, was amended last year to gradually increase the schedule from what was then the current amount of $25,000 to $29,000 by July 1, 2009. The partial exemption income levels have not been changed since 1994 and 1995. The schedule in this measure gradually increases the partial exemption, always at local option, over a five year period, at percentage levels that are even through the partial exemption schedule.
Legislative history
S.2818A: 2007 - Referred to Aging, Passed Senate S.2818A: 2008 - Referred to Aging, passed Senate
Fiscal implications
None to the state.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.