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History
- Print number 3369a
- Amend and recommit to local government
- Referred to local government
- Referred to local government
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.
Allows for increases in the amount of income certain property owners may earn for purposes of qualification for certain tax exemptions
In Assembly Committee · Real Property Taxation · Sponsor Richard Gottfried
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 allowable increases in property income for persons with disabilities and limited incomes for purposes of qualification for certain tax exemptions
Purpose or general idea of bill
The bill increases the maximum income eligibility limit for the Disabled Homeowners' Exemption (DHE) Program from $29,000 to $50,000 starting July 1, 2016. Future increases to the income eligibility limit will automatically take effect every two years starting July 1, 2018, by the average annual percentage change in the U.S. Department of Labor's Consumer Price Index for all urban consumers (CPI-U).
Summary of specific provisions
Section 1 amends paragraph a of subdivision 5 of section 459-c of the real property tax law to increase the maximum income eligibility limit for the Disabled Homeowners' Exemption and establish automatic biennial increases to the maximum income eligibility limit.
Section 2 states that the bill will take effect immediately.
Justification
Section 459-c of the Real Property Tax Law authorizes local governments to provide a partial property tax exemption to disabled homeowners. The exemptions are based on income, and provided on a sliding scale from 5%-50% exemption. The current maximum income for the 50% exemption is $29,000, and was last increased in 2009.
According to the U.S. Department of Labor, $29,000 in 2009 dollars equals $31,600 in 2014 dollars, due to inflation. Many disabled homeowners who previously qualified for the DHE exemption may no longer qualify due to cost-of-living adjustments to their fixed sources of income. This bill would raise the maximum income to $50,000 starting on July 1, 2016, and tie future increases of the eligibility limit to the Consumer Price Index. Doing so will ensure that disabled homeowners aren't "priced out" of the exemption due to nominal increases in their fixed incomes, and remove the need for the state legislature to revisit the income eligibility every few years.
A similar increase in income eligibility was made to the Disability Rent Increase Exemption in the enacted 2014-2015 budget.
Prior legislative history
New bill.
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.