New York S 5175: Relates to exemptions from real property taxes for senior citizens

Bill Text

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S05175 Summary:

BILL NOS05175A

&nbsp

SAME ASSAME AS A03698-A

&nbsp

SPONSORCOMRIE

&nbsp

COSPNSRHARCKHAM, HELMING, JACKSON, RHOADS, ROLISON

&nbsp

MLTSPNSR

&nbsp

Amd §467, RPT L

&nbsp

Authorizes localities to provide for an additional real property tax exemption for senior citizens who meet the income eligibility limits and other criteria to the extent of sixty-five percent of the assessed valuation of such real property.

Go to top S05175 Actions:

BILL NOS05175A

&nbsp

02/19/2025REFERRED TO AGING

04/01/2025AMEND AND RECOMMIT TO AGING

04/01/2025PRINT NUMBER 5175A

04/29/20251ST REPORT CAL.716

04/30/20252ND REPORT CAL.

05/01/2025ADVANCED TO THIRD READING 

06/11/2025SUBSTITUTED BY A3698A

&nbspA03698 AMEND=A Weprin (MS)

&nbsp01/30/2025referred to real property taxation

&nbsp03/27/2025amend and recommit to real property taxation

&nbsp03/27/2025print number 3698a

&nbsp04/02/2025reported referred to ways and means

&nbsp06/04/2025reported referred to rules

&nbsp06/06/2025reported 

&nbsp06/06/2025rules report cal.426

&nbsp06/06/2025ordered to third reading rules cal.426

&nbsp06/06/2025passed assembly

&nbsp06/06/2025delivered to senate

&nbsp06/06/2025REFERRED TO RULES

&nbsp06/11/2025SUBSTITUTED FOR S5175A

&nbsp06/11/20253RD READING CAL.716

&nbsp06/11/2025PASSED SENATE

&nbsp06/11/2025RETURNED TO ASSEMBLY

&nbsp12/01/2025delivered to governor

&nbsp12/05/2025signed chap.581

Go to topS05175 Committee&nbspVotes:

Go to topS05175 Floor&nbspVotes:

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

Go to topS05175 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5175--A

 2025-2026 Regular Sessions

 IN SENATE

 February 19, 2025
 ___________

 Introduced by Sens. COMRIE, RHOADS, ROLISON -- read twice and ordered
 printed, and when printed to be committed to the Committee on Aging --
 committee discharged, bill amended, ordered reprinted as amended and
 recommitted to said committee

 AN ACT to amend the real property tax law, in relation to providing an
 additional real property tax exemption for certain senior citizens

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

 1 Section 1. Paragraph (b) of subdivision 1 of section 467 of the real
 2 property tax law is amended by adding a new subparagraph 4 to read as
 3 follows:
 4 (4) Notwithstanding the maximum exemption percentage permitted pursu-
 5 ant to paragraph (a) of this subdivision, any local law, ordinance or
 6 resolution adopted pursuant to this section may be amended, or a local
 7 law, ordinance or resolution may be adopted, to create additional annual
 8 income categories and corresponding exemption percentages for households
 9 making less than the maximum income eligibility level of such municipal
 10 corporation as provided in this subdivision (represented in the herein-
 11 below schedule as M) pursuant to the following schedule:

 12 ANNUAL INCOME PERCENTAGE OF ASSESSED VALUATION
 13 EXEMPT FROM TAXATION
 14 Less than (M) but
 15 more than (M- $1,000) 50%

 16 Less than (M- $1,000) but
 17 more than (M- $2,000) 55%

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06109-03-5

 S. 5175--A 2

 1 Less than (M- $2,000) but 60%
 2 more than (M- $3,000); and

 3 Less than (M- $3,000) 65%
 4 § 2. This act shall take effect immediately and shall apply to taxable
 5 years beginning on and after January 1, 2026.

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