NY S05735

Amends the real property tax law to expand STAR (School Tax Relief) enhanced exemption eligibility for senior citizens who experience income decreases due to retirement, in addition to the existing provision for spousal death.

Allows senior citizens to qualify for the enhanced exemption based on income from the year following the year that would normally apply, if the later year's income meets enhanced exemption thresholds.

Requires taxpayers to file income tax returns or other income documentation with the local assessor on or before the applicable taxable status date to claim the enhanced exemption based on post-retirement income.

Takes effect immediately upon enactment and applies to school years commencing January 1st or later following the date the bill becomes law.