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Sponsors
2 Co-sponsors
History
- Referred to aging
- Print number 3585a
- Amend and recommit to rules
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.458
- 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.
Increases maximum income eligibility levels for real property tax exemptions for seniors
In Assembly Committee · Aging · Sponsor Steven Englebright
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3585A
Title of bill
An act to amend the real property tax law, in relation to increasing maximum income eligibility levels for real property tax exemptions for seniors
Purpose
To gradually increase the income levels for the senior citizen partial real property tax exemption that may be enacted by local govern- ments over a five year period.
Read the full memo (611 words)
Summary of provisions
Section one amends Real Property Tax Law section 467 to increase the income eligibility levels for the partial real property tax exemption that local governments may provide to property owners who are at least 65 years old.
The exemption, which ranges from 45% to 5%, uses a sliding scale based on the property owner's income to determine the exemption amount. For years beginning before July 1, 2015, the maximum exemption of 45% would be available to property owners with an income that is less than the maximum income level for the locality plus $1,000. The minimum exemption of 5% would be available to property owners with an income that is less than the maximum income level for the locality plus $8,400.
For years beginning on and after July 1, 2015 and before July 1, 2016, the maximum exemption of 45% would be available to property owners with an income that is less than the maximum income level for the locality plus $1,250. The minimum exemption of 5% would be available to property owners with an income that is less than the maximum income level for the locality plus $10,500.
For years beginning on and after July 1, 2016 and before July 1, 2017, the maximum exemption of 45% would be available to property owners with an income that is less than the maximum income level for the locality plus $1,500. The minimum exemption of 5% would be available to property owners with an income that is less than the maximum income level for the locality plus $12,600.
For years beginning on and after July 1, 2017 and before July 1, 2018, the maximum exemption of 45% would be available to property owners with an income that is less than the maximum income level for the locality plus $1,750. The minimum exemption of 5% would be available to property owners with an income that is less than the maximum income level for the locality plus $14,700.
For years beginning on and after July 1, 2018, the maximum exemption of 450 would be available to property owners with an income that is less than the maximum income level for the locality plus $2,000. The minimum exemption of 5% would be available to property owners with an income that is less than the maximum income level for the locality plus $16,800.
Section three provides that this act shall take effect immediately.
Existing law
Real Property Tax Law section 467 currently authorizes local governments to provide a partial real property tax exemption to property owners who are at least 65 years of age.
Justification
Local governments have the option to provide a partial real property tax exemption to senior citizens based upon their income. The maximum income threshold for the 5% partial exemption, which was enacted in 1994, has never been increased. The maximum income thresholds for the remaining partial exemptions have not been increased since 1994. This bill would allow local governments to increase the maximum income thresholds so that more senior citizens could receive increased relief from their local real property taxes.
Legislative history
2013: S.3585 - 3rd Reading 2011-12: S.2212A - Passed Senate both years 2009-10: S.2022 - Referred to Aging both years 2007-08: S28l8-A - Passed Senate both years
Fiscal implications
None
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.