NY S01859

Adds Section 425-b to Real Property Tax Law to create a town tax exemption for senior citizens in Southampton equal to the Enhanced STAR school tax exemption amount.

Requires the Southampton Town Board to adopt a local law implementing this exemption after holding a public hearing; no separate application is required from eligible property owners.

Exemption assessment cannot exceed the taxable assessed value of the parcel for county purposes and does not affect total assessed value or town tax rate calculations.

Applies to all assessing units within the Town of Southampton, including cooperative apartment units and mobile homes that receive Enhanced STAR exemptions.

Takes effect immediately upon enactment.