What's happening
This bill raises the maximum income limit for disabled property owners to qualify for tax exemptions and indexes it to inflation.
Why it matters
Expands eligibility for disabled property owners. By raising the income cap to $50,000, more disabled individuals and families with limited incomes can now qualify for property tax exemptions, potentially easing their financial burdens and helping them stay in their homes.
Ensures long-term relevance of the exemption. Indexing the maximum income limit to inflation (as measured by the CPI-U) means the exemption will keep pace with rising costs of living, preventing future erosion of its value and ensuring ongoing access for those who need it.
Reduces administrative barriers and uncertainty. Local governments can adopt the new, higher limit and automatic inflation adjustments, streamlining the process and reducing the need for frequent legislative updates to maintain the exemption’s effectiveness.
Targets relief to those with genuine need. The bill maintains detailed definitions of eligible income—including required inclusion and allowable deductions for medical and prescription drug expenses—ensuring that the benefit is directed to those with real financial challenges related to disability.
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
Raise Income Cap for Exemptions
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
2 Multi-sponsors
History
- Referred 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.
Raise Property Tax Income Limits
In Senate Committee · Local Government · Sponsor Brad Hoylman-Sigal
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2735
2017-2018 Regular Sessions
IN ASSEMBLY
January 23, 2017
Introduced by M. of A. GOTTFRIED, SEPULVEDA -- Multi-Sponsored by -- M. of A. BARNWELL, CARROLL -- read once and referred to the Committee on Real Property Taxation
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
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (a) of subdivision 5 of section 459-c of the real property tax law, as separately amended by chapters 187 and 252 of the laws of 2006, is amended to read as follows:
(a) if the income of the owner or the combined income of the owners of the property for the income tax year immediately preceding the date of making application for exemption exceeds the sum of three thousand dollars, or such other sum not less than three thousand dollars [nor more than twenty-six thousand dollars beginning July first, two thousand six, twenty-seven thousand dollars beginning July first, two thousand seven, twenty-eight thousand dollars beginning July first, two thousand eight, and twenty-nine], fifty thousand dollars beginning July first, two thousand [nine] seventeen, as may be provided by the local law or resolution adopted pursuant to this section; provided, however, beginning July first, two thousand nineteen and every two years thereafter, the maximum allowable income shall increase by the product of the average annual percentage changes in the consumer price index for all urban consumers (CPI-U) as published by the United States department of labor bureau of labor statistics for the two year period rounded to the nearest one thousand dollars. Income tax year shall mean the twelve month period for which the owner or owners filed a federal personal income tax return, or if no such return is filed, the calendar year. Where title is vested in either the husband or the wife, their combined income may not exceed such sum, except where the husband or wife, or ex-husband or
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02693-01-7
A. 2735 2
ex-wife is absent from the property due to divorce, legal separation or abandonment, then only the income of the spouse or ex-spouse residing on the property shall be considered and may not exceed such sum. Such income shall include social security and retirement benefits, interest, dividends, total gain from the sale or exchange of a capital asset which may be offset by a loss from the sale or exchange of a capital asset in the same income tax year, net rental income, salary or earnings, and net income from self-employment, but shall not include a return of capital, gifts, inheritances or monies earned through employment in the federal foster grandparent program and any such income shall be offset by all medical and prescription drug expenses actually paid which were not reimbursed or paid for by insurance, if the governing board of a municipality, after a public hearing, adopts a local law or resolution providing therefor. In computing net rental income and net income from selfemployment no depreciation deduction shall be allowed for the exhaustion, wear and tear of real or personal property held for the production of income;
§ 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.