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A2060Assembly2017-2018 Session

Protect Sibling Tax Exemptions

Official title

“Prohibits rescinding certain real property tax exemptions on real property owned by siblings”

Sponsor Steven EnglebrightAD-4Affects Housing
Status
In Assembly Committee
Real Property Taxation
Impact
4/10
Low
Passage
0%

Bill progress

Step 2 of 7

In committee · Real Property Taxation

What's happening

This bill allows surviving siblings aged 62 or older to keep certain real property tax exemptions after the other sibling's death.

Why it matters

  1. Expands existing protections. so that not only surviving spouses, but also surviving siblings (aged 62 or older), can keep valuable real property tax exemptions after the death of a co-owner sibling, reducing the risk of sudden financial hardship or forced property sales.

  2. Recognizes the realities of shared homeownership. among siblings, who may have inherited a family home or chosen to live together, updating outdated provisions that previously only protected married couples.

  3. Helps older New Yorkers age in place. by ensuring continued affordability for aging siblings who might otherwise lose a tax benefit they relied on, supporting stability and reducing displacement in vulnerable populations.

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Who cares

Headline styles

Protect Sibling Tax Exemptions

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Steven Englebright

Assembly Member · Assembly District 4

No co-sponsors yet.

History

  1. Referred to real property taxation
  2. Referred to real property taxation

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

2060

2017-2018 Regular Sessions

IN ASSEMBLY

January 17, 2017

Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation to not rescinding certain tax exemptions for real property owned by siblings

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subparagraph (iii) of paragraph (a) of subdivision 4 of section 425 of the real property tax law, as added by section 4 of part A of chapter 405 of the laws of 1999, is amended to read as follows:

(iii) In the case of property owned by husband and wife or by siblings, one of whom is sixty-five years of age or over, the exemption, once granted, shall not be rescinded solely because of the death of the older spouse or sibling, so long as the surviving spouse or sibling is at least sixty-two years of age as of the date specified in this paragraph.

§ 2. Paragraph (d) of subdivision 1 of section 467 of the real property tax law, as amended by chapter 440 of the laws of 1985, is amended to read as follows:

(d) The real property tax exemption on real property owned by husband and wife or by siblings, one of whom is sixty-five years of age or over, once granted, shall not be rescinded by any municipal corporation solely because of the death of the older spouse or sibling so long as the surviving spouse or sibling is at least sixty-two years of age.

§ 3. This act shall take effect immediately.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD03502-01-7

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.