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Companion bill
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Establishes a capped property school tax rate for persons seventy years of age or older who meet the eligibility requirements for the enhanced STAR exemption
In Assembly Committee · Real Property Taxation · Sponsor Steven Englebright
Full text
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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 or general idea
To create a fixed real property school tax rate for real property owners seventy (70) years of age or older who qualify for the enhanced STAR exemption.
Summary of provisions
This bill amends the real property tax law by establishing a fixed real property school tax rate for persons seventy years of age or over who meet the requirements for the enhanced STAR exemption.
The enhanced STAR exemption is available for the primary residences of senior citizens with yearly household incomes not exceeding the statewide standard.
1: (a) Under the bill, residential real property owned and occupied by: individuals who are seventy years of age or over; or by husband and wife, one of whom is seventy years of age or over and meets each of the requirements for the enhanced STAR exemption, shall be eligible for a fixed real property school tax rate.
(b) Under the bill, "fixed real property school tax rate" shall mean the lower of:
(i) the real property school tax rate established on the taxable status date immediately following the date on which an eligible person attains the age of seventy years; or
(ii)the real property school tax rate established on any taxable status date after an eligible person attains the age of seventy years
(c) Under the bill the fixed real property school tax rate shall be determined annually for each eligible person.
2: The bill requires eligible persons to apply annually for the fixed rate in a manner and form determined by the school district. The bill also requires eligible persons to submit proof of age.
3: Every school district shall notify residential real property owners of the provisions of this bill.
Justification
By the time New Yorkers attain the age of seventy, they typically no longer have dependants in the New York State school system. This bill is designed to benefit New York's senior citizens who are seventy years of age or older by freezing real property school tax rates. By providing a fixed school tax rate to persons aged seventy or older, this bill ensures some tax relief to persons no longer reaping the benefits that the real property school tax provides.
Legislative history
New Bill.
Fiscal implications
To be determined.
Effective date
This act shall take effect on January 1, 2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.