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NY A07533
Bill
Status
Introduced
5/10/2011
Primary Sponsor
Thomas McKevitt
Click for details
AI Summary
- Adds new section 1232 to New York tax law authorizing a 25 percent reduction in school taxes for residents in age-restricted communities (55 years and older)
- Reduction is available only in communities where zoning regulations restrict property ownership to residents aged 55 and older
- Requires approval by the local town or village to implement the tax reduction
- Takes effect on the thirtieth day after becoming law and applies to taxable years beginning January 1, 2012 or later
Legislative Description
Authorizes school tax reductions of 25% for residents in communities that restrict ownership to those fifty-five years of age and older.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means5/10/2011
Full Bill Text
No bill text available