What's happening
This bill allows seniors who retire and experience decreased income to qualify for enhanced STAR property tax exemptions based on their later income.
Why it matters
Makes it easier for newly retired seniors to access bigger property tax breaks. right after a drop in income, rather than having to wait for the exemption process to catch up, improving immediate financial relief.
Targets life changes that often cause seniors’ incomes to decrease. , such as retirement or the death of a spouse, ensuring the property tax system responds flexibly to real financial circumstances.
Requires up-to-date proof of income (like the most recent tax return) to qualify. , which could encourage more accurate and timely assessments and prevent unnecessary delays in receiving benefits.
Could help more seniors stay in their homes after retirement. by aligning tax relief with their actual, current ability to pay rather than relying on outdated income information.
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Headline styles
Easier STAR Tax Breaks
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to aging
- Referred to aging
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.
Easier STAR Tax Breaks
In Assembly Committee · Real Property Taxation · Sponsor Monica P. Wallace
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3367
2019-2020 Regular Sessions
IN SENATE
February 6, 2019
Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Aging
AN ACT to amend the real property tax law, in relation to enhanced eligibility requirements of STAR
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Clause (C-1) of subparagraph (i) of paragraph (b) of subdivision 4 of section 425 of the real property tax law, as added by section 1 of part NN of chapter 59 of the laws of 2014, is amended to read as follows:
(C-1) Notwithstanding the provisions of clause (C) of this subparagraph, in the event that a senior citizen, as a result of the death of his or her spouse, or upon retirement, experiences a decrease in income such that he or she would qualify for the enhanced exemption if his or her eligibility were based upon his or her income for the income tax year immediately subsequent to the income tax year that would otherwise be applicable pursuant to clause (C) of this subparagraph, then the eligibility of such senior citizen for the enhanced exemption on the applicable taxable status date shall be determined based upon his or her income for such later income tax year; provided that the income tax return for such year has been filed with the appropriate state or federal agency and a copy thereof has been filed with the assessor on or before the applicable taxable status date, or other documentation of income eligibility has been filed with the assessor on or before the applicable taxable status date.
§ 2. This act shall take effect immediately and shall apply to school years commencing on or after the first of January next succeeding the date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00374-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to enhanced eligibility requirements of STAR
Purpose
To assist senior homeowners to receive timely benefit of the enhanced STAR exemption or credit.
Summary of provisions
Section 1 - amends section 425 of the Real Property Law to allow a recently retired homeowner to use his or her most recent tax return, rather than the return from two years before, in applying for the Enhanced STAR benefit.
Section 2 - Effective date.
Existing law
Real Property Tax Law, section 425.
Justification
Currently, if a senior homeowner who had been earning over the threshold for eligibility for the Enhanced STAR benefit retires, perhaps leaving social security as his or her sole income, that homeowner will have to wait two years, with drastically reduced income, before he or she will be eligible for Enhanced STAR. For example, a person retiring December 31, 2018 will not be eligible for Enhanced STAR benefits until the 2020-21 school year. The additional Enhanced STAR reduction will not be available for either the 2018-19 or the 2019-20 school years, even though current income would otherwise make such homeowner eligible. This bill helps to remedy this situation by allowing such a recently retired homeowner to use the most recent tax information to potentially advance eligibility by one year.
Legislative history
2017-18 - S.5735/A.7644 - AGING/Real Property Taxation
Fiscal implications
To be determined
Effective date
This act shall take effect immediately and shall apply to school years commencing on or after the first of January next succeeding the date on which it shall have become a law
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.