NY S09256

Raises the maximum income eligibility for New York City's senior citizen homeowners' property tax exemption from $58,400 to $100,000.

Senior homeowners with annual incomes between $57,500 and $100,000 would qualify for a 5% property tax exemption on their assessed valuation.

Amends the New York City Administrative Code section 11-245.3, which governs the sliding-scale senior homeowner exemption program.

The bill takes effect immediately upon enactment.