What's happening
This bill increases property tax exemptions for seniors in New York, providing higher exemption rates as age increases.
Why it matters
Provides progressively larger property tax exemptions for older seniors. , meaning the financial relief increases as residents age—from 50% exemption at age 65–69, up to 75% for those 90 and older. This creates a stronger safety net for the oldest residents, who are often on fixed incomes.
May encourage seniors to age in place. by reducing the property tax burden as they get older, potentially lessening pressure to move or downsize due to rising costs.
Requires local government action (public hearing and local law/ordinance/resolution) to implement. these exemptions, meaning the impact will vary by municipality and community advocacy may be needed to activate the new benefits.
Includes non-traditional households. (such as siblings by blood or adoption and mixed-qualification households) in the exemption, recognizing diverse family structures and living arrangements among seniors.
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Who cares
Headline styles
Increase Senior Tax Exemptions
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History
- Referred to real property taxation
- Referred to real property taxation
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5967
2017-2018 Regular Sessions
IN ASSEMBLY
February 17, 2017
Introduced by M. of A. BARNWELL -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to tax exemptions for persons sixty-five years or older
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (a) of subdivision 1 of section 467 of the real property tax law, as amended by chapter 348 of the laws of 2007, is amended to read as follows:
(a) (1) Real property owned by one or more persons, each of whom is sixty-five years to sixty-nine years of age [or over], or real property owned by husband and wife or by siblings, one of whom is sixty-five years to sixty-nine years of age [or over], or real property owned by one or more persons, some of whom qualify under this section and the others of whom qualify under section four hundred fifty-nine-c of this title, shall be exempt from taxation by any municipal corporation in which located to the extent of fifty per centum of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor. For the purposes of this section, sibling shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
(2) Real property owned by one or more persons, each of whom is seventy years to seventy-four years of age, or real property owned by husband and wife or by siblings, one of whom is seventy years to seventy-four years of age, or real property owned by one or more persons, some of whom qualify under this section and the others of whom qualify under section four hundred fifty-nine-c of this title, shall be exempt from taxation by any municipal corporation in which located to the extent of fifty-five per centum of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07474-04-7
A. 5967 2
local law, ordinance or resolution providing therefor. For the purposes of this section, sibling shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
(3) Real property owned by one or more persons, each of whom is seventy-five years to seventy-nine years of age, or real property owned by husband and wife or by siblings, one of whom is seventy-five years to seventy-nine years of age, or real property owned by one or more persons, some of whom qualify under this section and the others of whom qualify under section four hundred fifty-nine-c of this title, shall be exempt from taxation by any municipal corporation in which located to the extent of sixty per centum of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor. For the purposes of this section, sibling shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
(4) Real property owned by one or more persons, each of whom is eighty years to eighty-four years of age, or real property owned by husband and wife or by siblings, one of whom is eighty years to eighty-four years of age, or real property owned by one or more persons, some of whom qualify under this section and the others of whom qualify under section four hundred fifty-nine-c of this title, shall be exempt from taxation by any municipal corporation in which located to the extent of sixty-five per centum of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor. For the purposes of this section, sibling shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
(5) Real property owned by one or more persons, each of whom is eighty-five years to eighty-nine years of age, or real property owned by husband and wife or by siblings, one of whom is eighty-five years to eighty-nine years of age, or real property owned by one or more persons, some of whom qualify under this section and the others of whom qualify under section four hundred fifty-nine-c of this title, shall be exempt from taxation by any municipal corporation in which located to the extent of seventy per centum of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor. For the purposes of this section, sibling shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
(6) Real property owned by one or more persons, each of whom is ninety years of age or older, or real property owned by husband and wife or by siblings, one of whom is ninety years of age or older, or real property owned by one or more persons, some of whom qualify under this section and the others of whom qualify under section four hundred fifty-nine-c of this title, shall be exempt from taxation by any municipal corporation in which located to the extent of seventy-five per centum of the assessed valuation thereof, provided the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor. For the purposes of this section, sibling shall mean a brother or a sister, whether related through half blood, whole blood or adoption.
§ 2. This act shall take effect one year after it shall have become a law.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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