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History
- Referred to aging
- Referred to aging
Companion bill
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Authorizes a real property tax exemption for senior citizens in the town of Southampton
In Assembly Committee · Real Property Taxation · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4601
Title of bill
An act to amend the real property tax law, in relation to providing a real property tax exemption for the senior citizens in the town of Southampton
Purpose
Upon the adoption of a local law, this bill would provide an additional tax abatement to senior citizens in the town of Southampton, in addition to the STAR program. The abatement would be based on reassessment value of the property with the assessment roll completed in 2006 and through 2021.
Summary of provisions
In the town of Southampton, county of Suffolk, the property of a senior citizen that qualifies for and received the enhanced exemption pursuant to subdivision 4 of section 425 of the real property tax law shall be eligible for abatement. There will be no separate application required for the abatement. Eligibility for abatement will be determined annually by the town assessor. The abatement will eliminate all tax that results from any increase in the town tax applicable to the assessment roll. However, it will not limit tax increases if the actual value of the property increases.
Justification
The Town of Southampton is undertaking a town-wide reassessment that would bring all properties up to 100% market value thereby obviating the need to utilize the State's equalization rate. This legislation would allow the Town Board of the Town of Southampton to adopt a local law which would ensure that its' senior citizen population, who are on fixed income, do not suffer any adverse effects from reassessment. This amendment would provide that senior citizens who qualify for the enhanced STAR exemption would also receive the appropriate partial tax abatement on their Town portion of the tax bill. This amendment would not limit tax increases resulting from an actual change in the value of property or from subsequent town tax rate increases for tax rate increases for taxes other than the town tax.
Legislative history
2013-14: S.3658/A.4747 2011-12: S.1859/A.2084 2009-10: S.3648A/A.7198A 2007-08: S.658B/A.1290B 2005-06: S.1839A/A3531A 2003-04: S.6323A/A.9796A
Fiscal implications
None to the State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.