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NY S08870
Bill
Status
4/26/2022
Primary Sponsor
Elijah Reichlin-Melnick
Click for details
AI Summary
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Amends the real property tax law to raise the income threshold for property tax exemptions in certain municipalities from $26,000 to $50,000, effective July 1, 2022.
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Applies the $50,000 income threshold to municipal corporations within counties with populations between 335,000-340,000 or populations of one million or more, according to the last decennial census.
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Expands upon existing provisions that already set a $50,000 threshold for cities with one million or more residents beginning July 1, 2017.
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Allows local governments to adopt local laws, ordinances, or resolutions to implement these income threshold changes through the established municipal approval process.
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Takes effect immediately upon enactment.
Legislative Description
Relates to municipal corporations within counties having a population of between three hundred thirty-five thousand and three hundred forty thousand, or with a population of one million or more, according to the last decennial census.
Last Action
REFERRED TO AGING
4/26/2022