What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
1 Co-sponsor
History
- Referred to aging
- Referred to aging
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2017
Title of bill
An act to amend the real property tax law, in relation to the school tax relief (STAR) exemption
Purpose
To lower the income limitation in order to qualify for the school tax relief (STAR) program and implement a progressive base exemption amount based on income.
Summary of provisions
Section 1. Amends clause (B) of subparagraph (vi) of paragraph (b) of subdivision 2 of section 425 of the real property tax law to provide an increasing STAR base exemption based on income. The existing $30,000 base exemption is retained for those with incomes of more than $200,000 but less than $300,000. The base exemption would increase to $40,000 for those whose incomes are more than $100,000 but less than $200,000, and would increase further to $50,000 for those whose incomes are less than $100,000.
Section 2. Amends paragraph (b-1) of subdivision 3 of section 425 of the real property tax law to reduce the income limitation to qualify for the STAR program from $500,000 to $300,000.
Section 3. Effective date.
Justification
New York state has some of the highest property taxes in the nation, and more and more middle class New Yorkers are struggling to afford to stay in their homes. The STAR program provides New Yorkers with important relief from those property taxes but, other than the imposition in 2010 of an income limit to qualify for the program, the program has remained essentially the same since its inception. Over the years, however, the value of the STAR benefit has been diminished by ever rising property tax rates, and the time has come for a reevaluation of the program. By reducing the income limit to qualify for the program and providing an increasing base exemption amount based on income, the state can better target the relief provided by the STAR program to those New Yorkers who are most in need.
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.