Assembly Bill A7544

2017-2018 Legislative Session

Increases maximum income eligibility levels for real property tax exemptions for seniors

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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2017-A7544 (ACTIVE) - Details

See Senate Version of this Bill:
S237
Current Committee:
Assembly Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4709, S2022
2011-2012: A3740, S2212
2013-2014: A463, S3585
2015-2016: A5416, S1074
2019-2020: A6874

2017-A7544 (ACTIVE) - Summary

Increases maximum income eligibility levels for real property tax exemptions for seniors.

2017-A7544 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7544
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 1, 2017
                                ___________
 
 Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
   tee on Aging
 
 AN ACT to amend the real property tax law,  in  relation  to  increasing
   maximum income eligibility levels for real property tax exemptions for
   seniors
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph 1 of paragraph (b) of subdivision 1 of section
 467 of the real property tax law, as amended by chapter 261 of the  laws
 of 1994, is amended to read as follows:
   (1)  [Any]  PRIOR TO JULY FIRST, TWO THOUSAND NINETEEN, ANY local law,
 ordinance or resolution adopted pursuant to paragraph (a) of this subdi-
 vision may be amended, or a local law, ordinance or  resolution  may  be
 adopted,  to  provide  an exemption so as to increase the maximum income
 eligibility level of such municipal corporation as provided in  subdivi-
 sion  three  of this section (represented in the hereinbelow schedule as
 M), to the extent provided in the following schedule:
 
    ANNUAL INCOME                           PERCENTAGE ASSESSED VALUATION
                                                 EXEMPT FROM TAXATION

 More than (M) but
    less than (M+ $1,000)                           45 per centum
 (M+ $1,000 or more) but
    less than (M+ $2,000)                           40 per centum
 (M+ $2,000 or more) but
    less than (M+ $3,000)                           35 per centum
 (M+ $3,000 or more) but
    less than (M+ $3,900)                           30 per centum
 (M+ $3,900 or more) but
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03631-01-7
              

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