assembly Bill A10335

2015-2016 Legislative Session

Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons over sixty-five years of age and persons with disabilities and limited income

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 23, 2016 referred to aging

A10335 (ACTIVE) - Details

See Senate Version of this Bill:
S7859
Current Committee:
Assembly Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยงยง467 & 459-c, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10297, S772
2019-2020: A3149, S5557
2021-2022: A3956, S3085

A10335 (ACTIVE) - Summary

Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons sixty-five years of age or over and for persons with disabilities and limited income.

A10335 (ACTIVE) - Bill Text download pdf

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

                                  10335

                          I N  A S S E M B L Y

                              May 23, 2016
                               ___________

Introduced by M. of A. ABINANTI -- read once and referred to the Commit-
  tee on Aging

AN ACT to amend the real property tax law, in relation to increasing the
  amount of income property owners may earn for the purpose of eligibil-
  ity for the property tax exemption for persons sixty-five years of age
  or over and for persons with disabilities and limited income

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (a) of subdivision 3 of section 467 of  the  real
property  tax  law,  as  amended  by chapter 259 of the laws of 2009, is
amended to read as follows:
  (a) if the income of the owner or the combined income of the owners of
the property for the income tax year immediately preceding the  date  of
making  application  for  exemption  exceeds  the  sum of three thousand
dollars, or such other sum not less than three thousand dollars nor more
than twenty-six thousand dollars beginning July first, two thousand six,
twenty-seven thousand dollars beginning July first, two thousand  seven,
twenty-eight  thousand dollars beginning July first, two thousand eight,
[and] twenty-nine thousand dollars beginning July  first,  two  thousand
nine,  AND  FIFTY  THOUSAND  DOLLARS  BEGINNING JULY FIRST, TWO THOUSAND
SIXTEEN, as may be provided by the local law,  ordinance  or  resolution
adopted  pursuant to this section. Income tax year shall mean the twelve
month period for which the owner or  owners  filed  a  federal  personal
income  tax  return,  or  if no such return is filed, the calendar year.
Where title is vested in either the husband or the wife, their  combined
income  may  not  exceed  such sum, except where the husband or wife, or
ex-husband or ex-wife is absent from the property as provided in subpar-
agraph (ii) of paragraph (d) of this subdivision, then only  the  income
of  the spouse or ex-spouse residing on the property shall be considered
and may not exceed such sum. Such income shall include  social  security
and  retirement  benefits, interest, dividends, total gain from the sale
or exchange of a capital asset which may be offset by a  loss  from  the
sale  or  exchange  of  a capital asset in the same income tax year, net
rental income, salary or earnings, and net income from  self-employment,
but shall not include a return of capital, gifts, inheritances, payments
made  to  individuals  because of their status as victims of Nazi perse-
cution, as defined in P.L. 103-286 or monies earned  through  employment