Senator Nozzolio Announces New Property Tax Relief for Senior Citizens
Michael F. Nozzolio
February 29, 2016
In an effort to provide additional property tax relief for senior citizens, New York State Senator Mike Nozzolio and his colleagues in the State Senate have enacted legislation (S.1074A) to increase the maximum income eligibility levels for real property tax exemptions for seniors.
"Property tax relief is an issue that truly matters to New Yorkers, particularly senior citizens that are living on fixed incomes and seeing their property tax bills rise every year," Senator Nozzolio said. "This legislation would increase the maximum income eligibility levels for real property tax exemptions for seniors to help them pay their school property taxes so they can afford to stay in their homes."
The bill would allow for local governments to gradually increase the income requirements for seniors receiving the real property tax exemption. The exemption can range from 5 percent to 45 percent of the property's assessment and uses a sliding scale based on the property owner's income to determine the exemption amount.
The measure awaits action by the New York State Assembly.