The New York State Senate today passed a bill (S.638), sponsored by Senator Martin Golden (R-C-I, Brooklyn), which allows local governments to authorize property tax exemptions for people who make improvements or changes to their homes to accommodate senior relatives or disabled people. The legislation means that homeowners are able to add on to their homes for this purpose without having to pay higher taxes resulting from increased property assessments.
"As the baby boomer generation continues to age in New York State, this legislation is important to assist families in caring for their elderly relatives,” said Senator Golden. “This bill would also protect our disabled. Families that modify their homes to accommodate the needs of their relatives, or take them in to care for them, deserve this tax exemption."
Allowing seniors, such as parents or grandparents who are aged 62 years or older, as well as people with disabilities, to live with their family saves significant amounts of money that would be passed on to taxpayers if these individuals had to move into state-subsidized facilities.
The bill has been sent to the Assembly.
