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NY A05592
Bill
Status
2/22/2021
Primary Sponsor
Michael Fitzpatrick
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AI Summary
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Expands the real property tax exemption currently available to persons age 65 or older to also include persons who are totally and permanently disabled.
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Allows municipalities to grant a 50 percent exemption from assessed valuation to qualifying disabled property owners, matching the existing senior citizen exemption.
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Requires municipalities to adopt a local law, ordinance, or resolution specifying whether the exemption applies to seniors, disabled persons, or both categories.
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Applies to property owned by one or more persons who are disabled, or property owned jointly by spouses or siblings where at least one qualifies as disabled.
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Takes effect January 1st of the year following enactment into law.
Legislative Description
Provides that the current real property tax exemption for persons over 65 may also be extended to those persons who are totally and permanently disabled; requires that municipalities shall provide by local law that such exemptions shall be granted to either those 65 years of age or older or to those who are totally and permanently disabled, or to both categories of persons.
Last Action
referred to real property taxation
1/5/2022