NY A07573

Authorizes municipal governing boards to adopt a local law, ordinance, or resolution granting a real property tax freeze for owners aged 65 or older, or for spouses/siblings where at least one is 65 or older

Applies to one-, two-, or three-family residences, farm dwellings, and condominiums or cooperatives used as a primary residence, with waivers for medical absences or institutionalization

Freezes property taxes at the amount payable when the application is submitted; surviving spouses aged 62 or older retain the freeze after the death of the qualifying spouse

Requires annual reapplication, with municipalities required to send a 60-day notice before the deadline; freeze expires when no eligible person remains or reapplication is not filed

Imposes a fine and five-year disqualification from future freezes for willful false statements on applications; takes effect 180 days after becoming law