New York S 9256: Relates to increasing the income eligibility for the senior citizen homeowners' exemption

Bill Text

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S09256 Summary:

BILL NOS09256 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORSCARCELLA-SPANTON

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §11-245.3, NYC Ad Cd

&nbsp

Increases the maximum income for eligibility for the senior homeowners' exemption to $100,000.

Go to top S09256 Actions:

BILL NOS09256 

&nbsp

02/18/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Go to topS09256 Committee&nbspVotes:

Go to topS09256 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS09256 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9256

 IN SENATE

 February 18, 2026
 ___________

 Introduced by Sen. SCARCELLA-SPANTON -- read twice and ordered printed,
 and when printed to be committed to the Committee on Housing,
 Construction and Community Development

 AN ACT to amend the administrative code of the city of New York, in
 relation to the senior citizen homeowners' exemption

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 7 of section 11-245.3 of the administrative
 2 code of the city of New York, as amended by local law number 140 of the
 3 city of New York for the year 2017, is amended to read as follows:
 4 7. Notwithstanding the maximum income exemption eligibility level
 5 provided in subdivision three of this section, an exemption, subject to
 6 all other provisions of this section, shall be granted as indicated in
 7 the following schedule:

 8 Annual Income Percentage Assessed Valuation
 9 as of July 1, 2006 Exempt From Taxation

 10 More than $26,000 but less than $27,000 45 per centum
 11 $27,000 or more but less than $28,000 40 per centum
 12 $28,000 or more but less than $29,000 35 per centum
 13 $29,000 or more but less than $29,900 30 per centum
 14 $29,900 or more but less than $30,800 25 per centum
 15 $30,800 or more but less than $31,700 20 per centum
 16 $31,700 or more but less than $32,600 15 per centum
 17 $32,600 or more but less than $33,500 10 per centum
 18 $33,500 or more but less than $34,400 5 per centum

 19 Percentage Assessed Valuation
 20 Annual Income as of July 1, 2007 Exempt From Taxation

 21 More than $27,000 but less than $28,000 45 per centum
 22 $28,000 or more but less than $29,000 40 per centum
 23 $29,000 or more but less than $30,000 35 per centum

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13436-02-6

 S. 9256 2

 1 $30,000 or more but less than $30,900 30 per centum
 2 $30,900 or more but less than $31,800 25 per centum
 3 $31,800 or more but less than $32,700 20 per centum
 4 $32,700 or more but less than $33,600 15 per centum
 5 $33,600 or more but less than $34,500 10 per centum
 6 $34,500 or more but less than $35,400 5 per centum

 7 Percentage Assessed Valuation
 8 Annual Income as of July 1, 2008 Exempt From Taxation

 9 More than $28,000 but less than $29,000 45 per centum
 10 $29,000 or more but less than $30,000 40 per centum
 11 $30,000 or more but less than $31,000 35 per centum
 12 $31,000 or more but less than $31,900 30 per centum
 13 $31,900 or more but less than $32,800 25 per centum
 14 $32,800 or more but less than $33,700 20 per centum
 15 $33,700 or more but less than $34,600 15 per centum
 16 $34,600 or more but less than $35,500 10 per centum
 17 $35,500 or more but less than $36,400 5 per centum

 18 Percentage Assessed Valuation
 19 Annual Income as of July 1, 2009 Exempt From Taxation

 20 More than $29,000 but less than $30,000 45 per centum
 21 $30,000 or more but less than $31,000 40 per centum
 22 $31,000 or more but less than $32,000 35 per centum
 23 $32,000 or more but less than $32,900 30 per centum
 24 $32,900 or more but less than $33,800 25 per centum
 25 $33,800 or more but less than $34,700 20 per centum
 26 $34,700 or more but less than $35,600 15 per centum
 27 $35,600 or more but less than $36,500 10 per centum
 28 $36,500 or more but less than $37,400 5 per centum

 29 Percentage Assessed Valuation
 30 Annual Income as of July 1, 2017 Exempt From Taxation

 31 More than $50,000 but less than $51,000 45 per centum
 32 $51,000 or more but less than $52,000 40 per centum
 33 $52,000 or more but less than $53,000 35 per centum
 34 $53,