Senate Passes Bill Providing Property Tax Breaks For Disabled
Albany- State Senator Martin Golden (R-C, Brooklyn), Chairman of the New York State Senate Aging Committee, joined his colleagues today in passing legislation that would provide real property tax relief on properties owned by persons with disabilities on limited incomes.
The bill (S.5734-A) would authorize local governments to increase the maximum income eligibility limit under the Disabled Real Property Tax Exemption program from $24,000 to $26,000, and in one thousand dollar increments annually until 2009, when the income requirement will be $29,000.
Senator Marty Golden stated, "By granting local governments, including New York City, the option to raise the income eligibility limit that disabled individuals need to qualify for the disabled real property tax exemption, this legislation will greatly assist disabled New Yorkers with limited incomes to better cope with the financial strain placed upon them by escalating real property tax rates."
Golden continued, "This agreement will help ease the overwhelming financial burdens of disabled New Yorkers forced to cope with rising real property tax rates in our state. Increasing the maximum income eligibility limit for the disabled will give hardworking taxpayers living on a fixed income more breathing room when forced to make other important financial decisions in their lives."
The bill will be sent to the Governor for his consideration.