What's happening
This bill increases the base figure for the enhanced STAR property tax exemption for eligible senior citizens starting in the 2018–2019 school year.
Why it matters
Raises the property tax exemption base for seniors. By increasing the enhanced STAR exemption base to $75,800 for eligible senior citizens in 2018–2019, the bill provides greater property tax relief to seniors, potentially making it easier for them to afford staying in their homes.
Links future increases to inflation. Starting in 2019–2020, the exemption base for seniors will adjust annually based on changes in the Consumer Price Index for urban wage earners and clerical workers (CPI-W), helping the exemption keep pace with the cost of living.
Maintains support for non-seniors. The base figure for other eligible homeowners remains at $30,000, so the changes specifically target additional relief to seniors rather than broadening the tax break for all homeowners.
Could impact school tax revenues. By increasing the exemption amount for seniors, the bill may reduce the taxable property base for local schools, potentially shifting the tax burden or affecting school funding unless offset by state reimbursements.
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
Increase School Tax Exemption
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Referred to real property taxation
- Print number 1923a
- Amend (t) and recommit to real property taxation
- Referred to real property taxation
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.
Increase School Tax Exemption
In Senate Committee · Aging · Sponsor Terrence P. Murphy
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1923--A
2017-2018 Regular Sessions
IN ASSEMBLY
January 17, 2017
Introduced by M. of A. ENGLEBRIGHT, MAGNARELLI -- read once and referred to the Committee on Real Property Taxation -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the real property tax law, in relation to increasing the base figure for the enhanced school tax relief exception
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph (vi) of paragraph (b) of subdivision 2 of section 425 of the real property tax law, as added by section 1 of part D-1 of chapter 57 of the laws of 2007, clause (A) as further amended by subdivision (b) of section 1 of part W of chapter 56 of the laws of 2010, is amended and two new subparagraphs (vii) and (viii) are added to read as follows:
(vi) For the two thousand nine--two thousand ten school year [and thereafter] through the two thousand seventeen--two thousand eighteen school year:
(A) The base figure for the enhanced STAR exemption shall equal the prior year's base figure multiplied by the percentage increase in the consumer price index for urban wage earners and clerical workers (CPI-W) published by the United States department of labor, bureau of labor statistics, for the third quarter of the calendar year preceding the applicable school year, as compared to the third quarter of the prior calendar year. If a base figure as so determined is not exactly equal to a multiple of one hundred dollars, it shall be rounded to the nearest multiple of one hundred dollars. It shall be the responsibility of the commissioner to annually determine such base figures.
(B) The base figure for the basic STAR exemption shall be thirty thousand dollars.
(vii) For the two thousand eighteen--two thousand nineteen school year, the base figure shall be seventy-five thousand eight hundred
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03501-05-7
A. 1923--A 2
dollars for eligible senior citizens, and thirty thousand dollars for other eligible persons.
(viii) For the two thousand nineteen--two thousand twenty school year and thereafter:
(A) The base figure for the enhanced STAR exemption shall equal the prior year's base figure multiplied by the percentage increase in the consumer price index for urban wage earners and clerical workers (CPI-W) published by the United States department of labor, bureau of labor statistics, for the third quarter of the calendar year preceding the applicable school year, as compared to the third quarter of the prior calendar year. If a base figure as so determined is not exactly equal to a multiple of one hundred dollars, it shall be rounded to the nearest multiple of one hundred dollars. It shall be the responsibility of the commissioner to annually determine such base figures.
(B) The base figure for the basic STAR exemption shall be thirty thousand dollars.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.