NY A02383

Raises the income eligibility cap for the enhanced STAR property tax exemption for senior citizens from the current level to $120,000

Applies to final assessment rolls completed in 2024, based on income from the tax year immediately preceding the application date

Takes effect immediately and applies to all tax years commencing on or after the effective date

Amends section 425 of the real property tax law by adding a new clause establishing the updated income standard