Senate Bill S1094

                                BILL NUMBER:S1094

TITLE OF BILL:
An act
to amend the real property tax law, in relation to not rescinding
certain tax exemptions for real property owned by siblings

PURPOSE:
To allow siblings who co-own property and are eligible for the
enhanced School Tax Relief (STAR) Exemption and/or Senior Citizen
Real Property Tax Exemption to continue to receive such exemption in
the case of the death of one of the older sibling co-owners, so long
as the surviving sibling is at least sixty-two years of age.

SUMMARY OF PROVISIONS:
Amends sections 425(4)(a) (iii) and 467(1)(d) of the real property tax
law to allow siblings who co-own property to continue to receive the
exemptions provided under these sections in the event of the death of
an older sibling co-owner, so long as the surviving sibling is at
least sixty-two years of age.

JUSTIFICATION:
Under existing law, a husband and wife who jointly own property and
are eligible for the enhanced STAR Exemption and/or Senior Citizen
Real Property Tax Exemption can continue to receive the exemption(s)
in the event the older spouse dies and the surviving spouse is at
              

least sixty-two years old. Although the law allows sibling co-owners
of property to qualify for the enhanced STAR Exemption and Senior
Citizen Real Property Tax Exemption as long as at least one of the
siblings is age sixty-five or over and the income criteria is met,
the existing law does not extend the benefit in regard to the death
of an older spouse to a sibling. This is an inequitable situation. A
surviving younger sibling co-owner should realize the same protection
as a surviving spouse in the event of an older sibling. The death of
a sibling is traumatic enough, without the added worry of additional
financial strain and the prospect of not being able to maintain one's
home due to property tax burdens. This bill seeks to address this
unfair situation by extending the same protection to sibling
co-owners as is provided to spouses.

LEGISLATIVE HISTORY:
S.223/A.3848 of 2011/2012; Referred to Local Government
S.1455/ A.1365 of 2009/2010; Referred to Senate Aging Committee
S.515/A.819 of 2007/2009; Referred to Senate Aging Committee S.695 of
2005; Referred to Aging
S.1317 of 2003/2004; Ordered to Third Reading in 2004
S.2116 of 2001/2002
S.7735 of 2000

FISCAL IMPLICATIONS:
This legislation, if enacted, would have no fiscal impact since it
would allow certain older Persons already receiving the exemptions
provided under sections 425 and 467 of the real property tax law to
continue to do so.

EFFECTIVE DATE: Immediately.