NY S02392

Creates an age-based school tax refund for seniors aged 65 and older who own one, two, or three family residences, farm dwellings, or condominiums/cooperatives as their primary residence with combined household income not exceeding $150,000.

Establishes tiered refund amounts based on 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+).

For properties owned by spouses or siblings, only one owner must meet the age requirement if the property serves as their primary residence; surviving spouses aged 62+ retain the same refund level until reaching the threshold for a higher tier.

Requires school districts to notify property owners of the program and mandates applicants file annually with their local assessor by the taxable status date with proof of residency as requested.

Specifies the refund does not affect state education aid calculations, school district debt limits, or property tax rate determinations, and takes effect 180 days after enactment.