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NY S04660

Bill

Official Source

Status

Introduced

4/1/2015

Primary Sponsor

Andrew Lanza

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Origin

Senate

2015-2016 General Assembly

AI Summary

  • Amends Real Property Tax Law Section 467 to allow localities to adopt or amend local laws providing an additional 60% real property tax exemption for eligible senior citizens
  • Exemption available to senior citizens whose income for the preceding tax year exceeds $3,000 or another amount between $3,000 and $22,000, as set by the municipality
  • Property owners receiving a reduction in assessed valuation under this exemption are ineligible for any further exemptions under this section
  • Permits municipalities to increase their maximum income eligibility level for the exemption according to a schedule outlined in the legislation

Legislative Description

Authorizes localities to provide for an additional real property tax exemption for senior citizens who meet the income eligibility limits and other criteria to the extent of sixty percent of the assessed valuation of such real property.

Last Action

PRINT NUMBER 4660A

1/19/2016

Committee Referrals

Aging4/1/2015

Full Bill Text

No bill text available