Assembly Bill A1039

2015-2016 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

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A1039 (ACTIVE) - Details

See Senate Version of this Bill:
S740
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Add §497, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A1149
2011-2012: A400
2013-2014: A1710, S6760
2017-2018: A752, S1809
2019-2020: A3712

2015-A1039 (ACTIVE) - Summary

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.

2015-A1039 (ACTIVE) - Bill Text download pdf 

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

                                  1039

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced  by  M.  of A. GUNTHER, COLTON, PERRY, COOK, SKOUFIS, WALTER,
  SALADINO, RAIA, McLAUGHLIN, MONTESANO -- Multi-Sponsored by --  M.  of
  A.  BLANKENBUSH,  CERETTO,  CORWIN,  HOOPER,  THIELE  -- read once and
  referred to the Committee on Real Property Taxation

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.
                                                           LBD01671-01-5

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