NY A05352

Increases the household gross income limit for the real property tax circuit breaker credit from $18,000 to $36,000, expanding eligibility for low-income homeowners and renters.

Extends the credit to individuals with permanent and total disabilities as defined in Internal Revenue Code Section 22, in addition to those aged 65 and older.

Doubles the maximum rent limit for tenant eligibility from $450 to $900 per month on average.

Changes property value eligibility from a flat $85,000 threshold to the median full value of residential real property sales within the county or state, whichever is less, for properties owned over two years.

Increases maximum credit amounts across all income brackets, with adjustments effective January 1, 2013, and adds new exclusions for households claiming Earned Income Tax Credits and those with income exceeding 80 percent of state median family income.