New York A 230: Grants a total exemption from real property taxation for school tax purposes for certain persons seventy-five years of age or over

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A00230 Summary:

BILL NOA00230 

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SAME ASSAME AS S06533

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SPONSOREichenstein

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COSPNSRRozic, Hevesi, Berger

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MLTSPNSR

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Amd §§467-b, 467 & 459-c, RPT L

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Relates to tax abatement for rent-controlled and rent regulated property occupied by and real property owned by senior citizens or persons with disabilities.

Go to top A00230 Actions:

BILL NOA00230 

&nbsp

01/08/2025referred to aging

01/07/2026referred to aging

Go to topA00230 Committee&nbspVotes:

Go to topA00230 Floor&nbspVotes:

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

Go to topA00230 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 230

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. EICHENSTEIN, ROZIC -- read once and referred to
 the Committee on Aging

 AN ACT to amend the real property tax law, in relation to tax abatement
 for rent-controlled and rent regulated property occupied by and real
 property owned by senior citizens or persons with disabilities

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

 1 Section 1. Paragraphs a and b of subdivision 3 of section 467-b of the
 2 real property tax law, paragraph a as amended by section 1 of part U of
 3 chapter 55 of the laws of 2014 and paragraph b as amended by chapter 129
 4 of the laws of 2014, are amended to read as follows:
 5 a. for a dwelling unit where the head of the household is a person
 6 sixty-two years of age or older, no tax abatement shall be granted if
 7 the combined income of all members of the household for the income tax
 8 year immediately preceding the date of making application exceeds four
 9 thousand dollars, or such other sum not more than twenty-five thousand
 10 dollars beginning July first, two thousand five, twenty-six thousand
 11 dollars beginning July first, two thousand six, twenty-seven thousand
 12 dollars beginning July first, two thousand seven, twenty-eight thousand
 13 dollars beginning July first, two thousand eight, twenty-nine thousand
 14 dollars beginning July first, two thousand nine, and fifty thousand
 15 dollars beginning July first, two thousand fourteen, and fifty-five
 16 thousand dollars beginning July first, two thousand twenty-five, as may
 17 be provided by the local law, ordinance or resolution adopted pursuant
 18 to this section, provided that when the head of the household retires
 19 before the commencement of such income tax year and the date of filing
 20 the application, the income for such year may be adjusted by excluding
 21 salary or earnings and projecting [his or her] such head of household's
 22 retirement income over the entire period of such year.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00305-01-5

 A. 230 2

 1 b. for a dwelling unit where the head of the household qualifies as a
 2 person with a disability pursuant to subdivision five of this section,
 3 no tax abatement shall be granted if the combined income for all members
 4 of the household for the current income tax year exceeds fifty thousand
 5 dollars beginning July first, two thousand fourteen, and fifty-five
 6 thousand dollars beginning July first, two thousand twenty-five, as may
 7 be provided by the local law, ordinance or resolution adopted pursuant
 8 to this section.
 9 § 2. Subparagraph (i) of paragraph (a) of subdivision 3 of section 467
 10 of the real property tax law, as amended by section 2 of part K of chap-
 11 ter 59 of the laws of 2023, is amended to read as follows:
 12 (i) if the income of the owner or the combined income of the owners of
 13 the property for the applicable income tax year exceeds the sum of three
 14 thousand dollars, or such other sum not less than three thousand dollars
 15 nor more than [fifty] fifty-five thousand dollars, as may be provided by
 16 the local law, ordinance or resolution adopted pursuant to this section.
 17 § 3. Subparagraph (i) of paragraph (a) of subdivision 5 of section
 18 459-c of the real property tax law, as amended by section 8 of part K of
 19 chapter 59 of the laws of 2023, is amended to read as follows:
 20 (i) if the income of the owner or the co