NY S08653

Doubles the income standard for the enhanced STAR exemption for assessment rolls completed after 2022 by changing the calculation to twice the previously-applicable income standard increased by the cost-of-living-adjustment percentage.

Creates a new total exemption from school taxes for senior citizens age 80 and older who meet enhanced STAR criteria, applicable to assessment rolls completed after 2022.

Allows the total exemption for properties owned by spouses or siblings if at least one owner is age 80 or older and the property serves as their primary residence.

Restricts the school tax exemption when a child resides in the property and attends public elementary or secondary school, unless the school district board adopts a resolution permitting the exemption after public hearing.

Takes effect immediately and applies to assessment rolls completed on and after January 1, 2023.