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History
- Referred to aging
- Delivered to assembly
- Passed senateVote 59–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.72
- Print number 1074a
- Amend and recommit to aging
- Referred to aging
- Returned to senate
- Died in assembly
- Referred to aging
Show 5 earlier actions
- Delivered to assembly
- Passed senateVote 58–0
- Ordered to third reading cal.965
- Committee discharged and committed to rules
- 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
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 governments over a multiple years.
Summary of provisions
Section 1 of this bill amends subparagraph 1 of paragraph (b) of subdivision 1 of section 467 of the Real Property Tax Law 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.
Read the full memo (738 words)
The exemption, which ranges from 5% to 45% of the property's assessed value, uses a sliding scale based on the property owner's income to determine the exemption amount. For years beginning 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 $1,000. 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.
Section 2 of this bill changes the letters for paragraphs (c) and (d) of subdivision 1 of section 467 of the Real Property Tax Law to (g) and (h), respectively, adds paragraphs (c), (d), (e), and (f) to subdivision 1 to address the exemption for different years. For years beginning on and after July 1, 2018 and before July 1, 2019, 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, 2019 and before July 1, 2020, 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, 2020 and before July 1, 2021, 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, 2021, 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 $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 3 of this bill 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. This partial exemption can range from 5% of the property's assessed value to 45% percent of the property's assessed value. The income limitation for the 5% partial exemption, which was enacted in 1995, has never been increased. The income limitation for the remaining partial exemptions have not been increased since 1994.
This bill would allow local governments to increase the income limitations for these partial exemptions so that more senior citizens could receive increased relief from their local real property taxes.
Legislative history
2015: S.1074 - Passed the Senate 2014: S.3585-A - Referred to Aging 2013: S.3585-A - 3rd Reading Calendar 2012: S.2212-A - Passed the Senate 2011: S.2212-A - 3rd Reading Calendar 2010: S.2022 - Referred to Aging 2009: S.2022 - Referred to Aging 2008: S.2818-A - Passed the Senate 2007: S.2818-A - Passed the Senate
Fiscal implications
None to the State
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.