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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.
Provides a real property tax rate freeze for persons over seventy years of age
In Assembly Committee · Real Property Taxation · 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 establishing a capped real property school tax rate for persons seventy years of age or older who meet the eligibility requirements for the enhanced STAR exemption
Purpose
To provide seniors with a choice, depending on their individual circumstances, to either have their real property school tax rate frozen as of the day that they turn 70 years of age, or in the alternative, to receive a STAR rebate check.
Summary of provisions
This bill amends the real property tax law by allowing seniors, age 70 and older, to opt to freeze the full value tax rate applied against their STAR eligible property to the previous year's level, or in the alternative, receive a STAR rebate check.
The above options would be available to seniors, age 70 and older, who are eligible for the Enhanced STAR benefit. If the STAR eligible property is owned by multiple individuals, one of these individuals must have attained at least the age of seventy in order to be eligible to receive the tax freeze or tax rebate described above.
If a senior chooses the rebate check option, they would be taxed at the current school tax rate. A senior cannot receive both benefits.
Justification
Many seniors live on fixed incomes and have difficulty paying school property taxes which are constantly increasing. Those seniors who quality for the enhanced STAR exemption find that school property taxes result in less money for food and much needed medical expenses. Seniors live in constant fear that they will not be able to afford to live in their homes. This bill will provide financial stability and insure that our seniors will not be forced to give up necessities just to pay their rising property taxes.
Legislative history
S.3843-A, 2007-08; S.2404-C, 2005-06; S.3416, 2003-04.
Fiscal implications
To be determined.
Effective date
This Act shall take effect on the first of January next succeeding the date on which it shall have become a law and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.