Provides a cap on real property assessments for person sixty-five years of age or older in the county of Onondaga

Title of bill

An act to amend the real property tax law, in relation to capping real property assessments for person sixty-five years of age or older in the county of Onondaga

Purpose

To cap real property assessments for homeowners sixty-five years of age or older, preventing assessments from raising and allowing assessments to only be changed when they are in fact decreasing, in Onondaga County.

Summary of provisions

Section 1 -- Amends the Real Property Tax Law by adding a new section 467-g. Permits Onondaga County and any municipalities within Onondaga County to adopt a local law, ordinance or resolution capping real property assessments for homeowners sixty-five years of age or older, preventing assessments from raising and allowing assessments to only be changed when they are in fact decreasing. Establishes a procedure for homeowners to establish that they are entitled to this assessment capping.

Section 2 Effective date.

Justification

This bill is being introduced at the request of the Onondaga County Executive. This legislation would enable Onondaga County to cap property tax assessments for senior homeowners sixty-five years of age or older. Rising property taxes are crippling Upstate New York, and oftentimes, senior citizens are hit hardest by these out-of-control taxes. This legislation would give local officials in Onondaga County the power to provide some much needed tax relief to senior homeowners. By capping the real property assessment for senior homeowners, and ensuring that any incremental increase is prevented and allowing that the assessment only be changed when the assessment decreases, we can ensure that these men and women can hold onto their homes while they live out their Golden Years.

Legislative history

New bill.

Fiscal implications

None.

Effective date

Sixty days after it shall have become a law.