Loading chat...
NY S08954
Bill
Status
Engrossed
6/5/2024
Primary Sponsor
Cordell Cleare
Click for details
AI Summary
- Amends the real property tax law to increase the maximum income threshold for property tax exemption eligibility for owners age 65 and older from $50,000 to $75,000.
- Allows the income threshold to be set by local law, ordinance, or resolution within the range of $3,000 to $75,000.
- Applies to the combined income of multiple owners if the property has more than one owner.
- Takes effect immediately upon enactment.
Legislative Description
Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons over sixty-five years of age; increases such amount to $75,000.
Last Action
referred to aging
6/5/2024
Committee Referrals
Aging6/5/2024
Aging4/2/2024
Full Bill Text
No bill text available