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NY S06427
Bill
Status
Introduced
3/13/2025
Primary Sponsor
William Weber
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AI Summary
- Creates a total exemption from school property taxes for homeowners aged 75 or older who have lived in the school district for at least 30 years and have no children enrolled in that district
- Allows the exemption for properties owned by spouses or siblings if one owner is 75+ and the youngest owner is at least 65 years old
- Applies to one, two, or three family residences, farm dwellings, and condominiums/cooperatives used as primary residences
- Sets income eligibility at $60,000 combined household income, adjusted annually for cost-of-living based on Social Security benefit increases
- Requires local governing boards to adopt a local law, ordinance, or resolution after a public hearing to implement the exemption in their municipality
Legislative Description
Grants a total exemption from real property school tax for property owned by a person seventy-five years of age or older, or owned by spouses or siblings if one such person is seventy-five years of age or over, provided the owner has no children in the school district and has resided in the district for 30 years or more.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026
Committee Referrals
Local Government3/13/2025
Full Bill Text
No bill text available