|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to local government|
|Jan 09, 2013||referred to local government|
senate Bill S1647
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1647 - Details
S1647 - Summary
Provides for a capped real property school tax rate for persons over seventy years of age.
S1647 - Sponsor Memo
BILL NUMBER:S1647 TITLE OF BILL: An act to amend the real property tax law, in relation to establishing a capped real property school tax rate for persons seventy years of age or older who meet the eligibility requirements for the enhanced STAR exemption PURPOSE: To provide seniors with a choice, depending on their individual circumstances, to either have their real property school tax rate frozen as of the day that they turn 70 years of age, or in the alternative, to receive a STAR rebate check. SUMMARY OF PROVISIONS: This bill amends the real property tax law by allowing seniors, age 70 and older, to opt to freeze the full value tax rate applied against their STAR eligible property to the previous year's level, or in the alternative, receive a STAR rebate check. The above options would be available to seniors, age 70 and older, who are eligible for the Enhanced STAR benefit. If the STAR eligible property is owned by multiple individuals, one of these individuals must have attained at least the age of seventy in order to be eligible to receive the tax freeze or tax rebate described above. If a senior chooses the rebate check option, they would be taxed at the current school tax rate. A senior cannot receive both benefits.
S1647 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1647 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to establishing a capped real property school tax rate for persons seventy years of age or older who meet the eligibility requirements for the enhanced STAR exemption THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property tax law is amended by adding a new section 431 to read as follows: S 431. PERSONS SEVENTY YEARS OF AGE OR OVER; CAPPED REAL PROPERTY SCHOOL TAX RATE. 1. (A) RESIDENTIAL REAL PROPERTY OWNED AND OCCUPIED BY ONE OR MORE PERSONS, EACH OF WHOM IS SEVENTY YEARS OF AGE OR OVER AND MEETS EACH OF THE REQUIREMENTS FOR THE ENHANCED EXEMPTION FOR SENIOR CITIZENS SET FORTH IN SECTION FOUR HUNDRED TWENTY-FIVE OF THIS ARTICLE, OR RESIDENTIAL REAL PROPERTY OWNED AND OCCUPIED BY HUSBAND AND WIFE, ONE OF WHOM IS SEVENTY YEARS OF AGE OR OVER AND MEETS EACH OF THE REQUIRE- MENTS FOR THE ENHANCED EXEMPTION FOR SENIOR CITIZENS SET FORTH IN SECTION FOUR HUNDRED TWENTY-FIVE OF THIS ARTICLE, SHALL BE ELIGIBLE FOR THE CAPPED REAL PROPERTY SCHOOL TAX RATE SET FORTH IN THIS SECTION, PROVIDED THE SCHOOL DISTRICT, AFTER PUBLIC HEARING, ADOPTS A RESOLUTION PROVIDING THEREFOR. (B) FOR PURPOSES OF THIS SECTION, THE TERM "CAPPED REAL PROPERTY SCHOOL TAX RATE" SHALL MEAN THE LOWER OF: (I) THE REAL PROPERTY SCHOOL TAX RATE ESTABLISHED ON THE TAXABLE STATUS DATE NEXT SUCCEEDING THE DATE ON WHICH AN ELIGIBLE PERSON ATTAINS THE AGE OF SEVENTY YEARS; OR (II) THE REAL PROPERTY SCHOOL TAX RATE ESTABLISHED ON ANY TAXABLE STATUS DATE SUBSEQUENT TO THE DATE ON WHICH AN ELIGIBLE PERSON ATTAINS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06156-01-3
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