NY S07850

Authorizes municipal corporations and school districts in counties with populations between 1.49 million and 1.5 million to establish senior citizen tax exemption programs for residents age 65 and over living in manufactured home parks, subject to public hearing and local law adoption.

Eligible seniors must have combined income not exceeding the standard set in Real Property Tax Law Section 425(4)(b) and reside in a manufactured home on rented land; exemption covers their proportional share of annual tax increases on park buildings and common areas.

Requires annual application by seniors to local assessor prior to taxable status date and mandatory accessory agreement from manufactured home park landlord obligating the landlord to reduce tenant rent monthly by one-twelfth of the annual exemption and reimburse pro-rated portions if tenant relocates.

Imposes penalty of up to $100 fine and five-year disqualification from exemptions for willful false statements on applications; exemption applies only to manufactured homes complying with all relevant housing codes and local laws.

State of New York shall reimburse municipalities and school districts that adopt the program for administrative costs; effective January 1, 2015 for real property with taxable status date on or after that date.