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NY S07859
Bill
Status
6/9/2016
Primary Sponsor
Andrea Stewart-Cousins
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AI Summary
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Increases the maximum income threshold for property tax exemption eligibility from $29,000 to $50,000 beginning July 1, 2016, for owners 65 years or older and persons with disabilities and limited income.
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Applies the new $50,000 income limit to both Section 467 (senior citizens exemption) and Section 459-c (persons with disabilities exemption) of the Real Property Tax Law.
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Allows local municipalities to set their own income thresholds between $3,000 and $50,000 through local law, ordinance, or resolution adoption.
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Takes effect immediately upon enactment.
Legislative Description
Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons sixty-five years of age or over and for persons with disabilities and limited income.
Last Action
referred to aging
6/9/2016