NY S00631

Allows local governments to make tax abatement redeterminations retroactive to the date when a senior citizen or disabled person's household income permanently decreased by more than 20%

Limits the retroactive benefit look-back period to the date of the most recently approved tax abatement application or renewal

Applies to rent-controlled and rent-regulated properties occupied by senior citizens or persons with disabilities who hold current tax abatement certificates

Amends section 467-b of the real property tax law to provide this optional retroactive relief at local discretion