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History
- Reported and committed to finance
- Notice of committee consideration - requested
- 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.
Authorizes municipal corporations to grant partial exemption on real property owned by persons totally and permanently disabled
In Assembly Committee · Real Property Taxation · Sponsor Michael J. Fitzpatrick
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 granting partial exemption from real property taxation to persons who are totally and permanently disabled
Summary of provisions
Section 1 amends paragraph (a) of subdivision 1 of §467 of the Real Property Tax Law as amended by chapter 506 of the laws of 1992. Those individuals who are totally and permanently disabled will be able to receive the same tax exemption. that persons over the age of sixty-five currently receive. They shall be exempt from taxation by any municipal corporation in which they are located to the extent of fifty per cent of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution.
Justification
Under present law, a local municipality may grant tax exemptions to those persons who are 65 years of age or older. This is intended to provide some relief to that group of property owners to which such exemptions could be granted, namely, those who are "totally and permanently disabled." Members of this group also have had their earning power severely reduced, and find it difficult to meet the tax obligations that are concomitant with owning their own homes. Thus this bill would help alleviate some of the economic problems faced by these people.
Fiscal implications
None to the state.
Prior legislative history
1995-96: Assembly Real Property Tax Cmte. 1997-98: Assembly Real Property Tax Cmte. 1999-00: Assembly Real Property Tax Cmte. 2001-02: Assembly Real Property Tax Cmte. 2003-04: Assembly Real Property Tax Cmte./Senate Aging Cmte. 2005-06: Assembly Real Property Tax Cmte./Senate 3rd Reading Calendar. 2007-08: Assembly Real Property Tax Cmte./Senate Aging Cmte.
Effective date
This act shall take effect on the first day of January after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.