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NY S00026
Bill
Status
1/8/2025
Primary Sponsor
James Tedisco
Click for details
AI Summary
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Doubles the income eligibility threshold for the enhanced STAR property tax exemption for assessment rolls completed after 2026, with continued annual cost-of-living adjustments
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Creates a total exemption from school property taxes for homeowners aged 80 and older who meet the enhanced STAR income requirements, effective for assessment rolls after 2026
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Allows the total exemption for properties owned by spouses or siblings if at least one owner is 80 or older and uses the property as their primary residence
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Excludes properties from the total school tax exemption if a child residing there attends public school, unless the local school board adopts a resolution allowing it after a public hearing
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Establishes this as a third variation of the STAR exemption program, to be known as the "Two STAR Act," effective for assessment rolls completed on or after January 1, 2026
Legislative Description
Increases the enhanced STAR property tax deduction for tax for final assessment rolls to be completed after two thousand twenty-six; provides a total exemption from school taxes for certain persons eighty years of age and older.
Last Action
REFERRED TO AGING
1/7/2026