Loading chat...
NY S03585
Bill
Status
Introduced
2/7/2013
Primary Sponsor
Martin Golden
Click for details
AI Summary
- Amends Real Property Tax Law Section 467 to increase maximum income eligibility levels for senior property tax exemptions in phases from July 1, 2015 through July 1, 2018
- Prior to July 1, 2015, allows income increases up to $5,700 above the municipal maximum (M) with exemptions ranging from 45% to 20% of assessed valuation
- From July 1, 2015 to July 1, 2016, allows income increases up to $10,500 above M with exemptions ranging from 45% to 5% of assessed valuation
- From July 1, 2016 to July 1, 2017, allows income increases up to $12,600 above M with exemptions ranging from 45% to 5% of assessed valuation
- From July 1, 2018 onward, allows income increases up to $16,800 above M with exemptions ranging from 45% to 5% of assessed valuation, with graduated reduction in exemption percentages as income increases
Legislative Description
Increases maximum income eligibility levels for real property tax exemptions for seniors.
Last Action
REFERRED TO AGING
1/8/2014
Committee Referrals
Aging1/8/2014
Rules6/21/2013
Aging2/7/2013
Full Bill Text
No bill text available