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Sponsors
1 Co-sponsor
History
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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.
Allows real property tax freeze for real property owned by taxpayers sixty-five or over
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 allowing a real property tax freeze for property owned by certain persons over 65 years of age
Purpose or general idea
To amend the real property tax law, in relation to allowing a real property tax freeze for property owned by certain persons over 65 years of age.
Summary of provisions
Adds a new § 467-e to the real property tax law to provide that a locality, upon the adoption of a local law, may freeze real property tax payments on property owned by persons sixty- five years of age or over.
SUBSECTION 1 defines the real property that may be exempted as that property owned by one or more persons, each of whom is sixty-five years of age or over, or real property owned by a husband and wife, one of whom is sixty-five years of age or over.
SUBSECTION 2 provides that no taxation freeze shall be granted: -if the income of the owner(s) of the property exceed thirty-two thousand dollars; -unless the title of the property has been held by the owners for at least two consecutive years prior to making application for a freeze; -unless the property is used exclusively for residential purposes; -unless the property is the legal residence of, and is occupied by, the owner(s) of the property.
SUBSECTION 3 provides that each governing board of any municipal corporation shall notify each person owning residential property of the provision of this section.
SUBSECTION 4 provides that an application for a freeze must be made by the owner(s) on forms prescribed by the state.
SUBSECTION 5 provides that the local assessing authority -- at least sixty days prior to the appropriate taxable status date -- shall notify each person who was granted a tax freeze."
Justification
Many senior citizens subsisting on fixed incomes are unable to pay spiraling real property taxes due to ever increasing property taxes. Consequently, many seniors are forced to move out of the homes and neighborhoods where they have spent much of their lives. This proposal, by freezing the tax liabilities of those senior citizens on low incomes, would afford some long-overdue financial relief.
Legislative history
New Bill.
Fiscal implications
To be determined.
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.