NY A01954

Creates an age-based school tax refund for residential properties where owners have combined household income of $150,000 or less, with refund amounts increasing by age: $500 (ages 65-69), $1,000 (ages 70-74), $1,500 (ages 75-79), $2,000 (ages 80-84), $2,500 (ages 85-89), and $3,000 (age 90+).

Eligible properties include one-, two-, or three-family residences, farm dwellings, and residential condominiums or cooperatives that serve as the owner's primary residence; at least one owner must meet the applicable age requirement.

Requires applicants to file applications with local assessors by the taxable status date, with assessors responsible for approving or denying applications and providing notice of denial within ten days prior to the assessment hearing date.

Provides that surviving spouses age 62 or older may continue receiving the same refund level upon the death of an older spouse until reaching the age threshold for that refund tier.

Specifies that refunds are not considered in calculating state education aid, school district debt limits, tax levies, or tax rates.