What's happening
This bill would cap property taxes for seniors aged 70 and older at the amount paid when they turn seventy.
Why it matters
Helps seniors on fixed incomes remain in their homes. By capping property taxes at age 70, the bill protects older adults from being priced out of their homes due to rising taxes, which is especially important for those relying on retirement income.
Applies to all types of property taxes, including school taxes. The cap is comprehensive, covering not just local or county taxes but also school taxes, which can be a significant portion of annual property tax bills.
Targets primary residences and long-term occupants. Only seniors who both own and primarily live in their property (for at least 274 days per year) are eligible, focusing the benefit on those most likely to be personally affected by tax increases, and not on investment or vacation properties.
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Who cares
Property owners age 70 and older
Those who reside at their property at least 274 days a year would have subsequent real property taxes capped at the amount they paid in the year they turned 70.
School districts
The cap would expressly include school taxes, limiting subsequent tax payments by qualifying senior property owners.
Local governments and property tax administrators
They would need to apply the cap to qualifying seniors for real property tax assessments occurring on or after the bill’s immediate effective date.
Headline styles
Cap Senior Property Taxes
Plain English, a few words. Used as the page title.
Sponsors
2 Multi-sponsors
History
- Referred to real property taxation
- Referred to real property taxation
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3712
2019-2020 Regular Sessions
IN ASSEMBLY
January 30, 2019
Introduced by M. of A. GUNTHER, COLTON, PERRY, COOK, RAIA, MONTESANO -- Multi-Sponsored by -- M. of A. BLANKENBUSH, THIELE -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the limitation of taxation on certain seniors
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The real property tax law is amended by adding a new section 497 to read as follows:
§ 497. Limitation of taxation on certain seniors. 1. The amount of taxes paid on real property by qualified seniors in subsequent years, including school taxes, shall not exceed the amount paid by such individual in the year in which he or she turns seventy years of age.
2. For purposes of this section, a qualified senior is an individual who is:
a. the owner of the subject property; and
b. resides at the property for at least two hundred seventy-four days in any given year; and
c. is at least seventy years of age.
§ 2. This act shall take effect immediately and shall apply to all real property tax assessments occurring on or after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01097-01-9
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.