senate Bill S6760

2013-2014 Legislative Session

Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 70

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Mar 06, 2014 referred to local government

S6760 - Bill Details

See Assembly Version of this Bill:
A1710
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง496, RPT L
Versions Introduced in Previous Legislative Sessions:
2011-2012: A400
2009-2010: A1149

S6760 - Bill Texts

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Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 70; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.

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BILL NUMBER:S6760

TITLE OF BILL: An act to amend the real property tax law, in relation
to the limitation of taxation on certain seniors

PURPOSE:

Caps the amount of taxes a senior has to pay on his or her real
property at the amount such individual paid in the year in which he or
she turned 70.

SUMMARY OF PROVISION:

Amends the real property tax law by adding a new Section 497 to limit
taxation on certain seniors; the amount of taxes paid on real property
by qualified seniors in subsequent years, including school taxes,
shall not exceed the amount paid by such individual in the year in
which the senior turns seventy years of age. For purposes of this
section, a senior is an individual who is the owner of the subject
property and resides at the property for at least 274 days in any
given year is at least seventy years of age.

EXISTING LAW:

Provides for a STAR Exemption for seniors on Real Property Tax.

JUSTIFICATION:

Given the rising real property taxes and school taxes across the
state, Seniors are unable to keep up with the financial increases. The
STAR Exemption is hardly adequate when seniors face double-digit tax
increases. The income of most seniors does not increase adequately
over time. Small cost of living increases may enhance the seniors'
retirement funds but they are certainly eaten up by insurance
premiums, medical costs and utilities.

LEGISLATIVE HISTORY:

2011-12: A400 Referred to Real Property Taxation
2009-10: A1149 Referred to Real Property Taxation
2007-08: A1230 Referred to Aging
2005-06: A9294 Referred to Aging

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

This act shall take effect immediately.

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                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6760

                            I N  S E N A T E

                              March 6, 2014
                               ___________

Introduced  by  Sen. KENNEDY -- 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 the limitation
  of taxation on certain seniors

  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 497 to read as follows:
  S 497. LIMITATION OF TAXATION ON CERTAIN SENIORS.  1.  THE  AMOUNT  OF
TAXES  PAID  ON  REAL PROPERTY BY QUALIFIED SENIORS IN SUBSEQUENT YEARS,
INCLUDING SCHOOL TAXES, SHALL NOT EXCEED THE AMOUNT PAID BY  SUCH  INDI-
VIDUAL IN THE YEAR IN WHICH HE OR SHE TURNS SEVENTY YEARS OF AGE.
  2.  FOR  PURPOSES OF THIS SECTION, A QUALIFIED SENIOR IS AN INDIVIDUAL
WHO IS:
  A. THE OWNER OF THE SUBJECT PROPERTY; AND
  B. RESIDES AT THE PROPERTY FOR AT LEAST TWO HUNDRED SEVENTY-FOUR  DAYS
IN ANY GIVEN YEAR; AND
  C. IS AT LEAST SEVENTY YEARS OF AGE.
  S  2.  This  act  shall take effect immediately and shall apply to all
real property tax assessments occurring on or after such effective date.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02365-01-3

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