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NY A10745

Bill

Official Source

Status

Introduced

3/27/2026

Primary Sponsor

Harry Bronson

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Freezes the assessed value of real property for tax purposes when all owners reach age 65 or older
  • Assessment is locked at the valuation determined most recently before all owners turned 65
  • Applies regardless of subsequent increases in the property's actual assessed value
  • Takes effect immediately and applies to taxable years beginning on or after the effective date
  • Amends Section 467 of the Real Property Tax Law by adding subdivision 1-a

Legislative Description

Freezes the assessed value of real property owned by persons aged 65 or over, for the purposes of determining taxes owed on such property, beginning on the date all of such persons reach the age of 65, regardless of the actual assessed value of the property at the time of taxation.

Last Action

referred to real property taxation

3/27/2026

Committee Referrals

Real Property Taxation3/27/2026

Full Bill Text

No bill text available