senate Bill S4579

2019-2020 Legislative Session

Authorizes a property tax cap for persons over seventy years of age

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Aging 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
Mar 15, 2019 referred to aging

S4579 (ACTIVE) - Details

Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Add §467-l, RPT L
Versions Introduced in 2017-2018 Legislative Session:
S7696

S4579 (ACTIVE) - Summary

Authorizes a property tax cap for persons over seventy years of age where the governing board of the municipality adopts a local law, ordinance or resolution providing for such cap.

S4579 (ACTIVE) - Sponsor Memo

S4579 (ACTIVE) - Bill Text download pdf


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

                                  4579

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             March 15, 2019
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Aging

AN ACT to amend the real property tax law, in relation to a real proper-
  ty tax cap for persons over seventy years of age

  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 467-l to read as follows:
  § 467-L. REAL PROPERTY TAX CAP FOR CERTAIN PERSONS OVER SEVENTY  YEARS
OF  AGE.  1. REAL PROPERTY OWNED BY ONE OR MORE PERSONS, EACH OF WHOM IS
SEVENTY YEARS OF AGE OR OVER, OR REAL  PROPERTY  OWNED  BY  HUSBAND  AND
WIFE,  ONE  OF WHOM IS SEVENTY YEARS OF AGE OR OVER, MAY BE SUBJECT TO A
REAL PROPERTY TAX CAP PROVIDED THE  GOVERNING  BOARD  OF  ANY  MUNICIPAL
CORPORATION IN WHICH THE REAL PROPERTY IS LOCATED, AFTER PUBLIC HEARING,
ADOPTS A LOCAL LAW, ORDINANCE OR RESOLUTION PROVIDING THAT REAL PROPERTY
TAXES  FOR  SUCH  PROPERTY  BE CAPPED AT THE AMOUNTS PAYABLE AT THE TIME
SUCH APPLICATION IS MADE.
  2. PROPERTY SHALL BE ELIGIBLE FOR A TAX CAP IF:
  (A) 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 THE CAP DOES NOT EXCEED THE SUM OF SEVENTY  THOU-
SAND  DOLLARS.  INCOME SHALL MEAN THE AGGREGATE ADJUSTED GROSS INCOME OF
ALL OWNERS FOR THE TAXABLE YEAR AS FILED, OR AS WOULD HAVE  BEEN  FILED,
ON THEIR FEDERAL PERSONAL INCOME TAX RETURN.
  (B)  THE  TITLE OF THE PROPERTY SHALL HAVE BEEN VESTED IN THE OWNER OR
ONE OF THE OWNERS OF THE PROPERTY FOR AT  LEAST  THIRTY-SIX  CONSECUTIVE
MONTHS  PRIOR  TO  THE  DATE  OF MAKING APPLICATION FOR A CAP, PROVIDED,
HOWEVER, THAT IF AS THE RESULT OF THE DEATH OF EITHER A HUSBAND OR  WIFE
IN  WHOSE NAME TITLE OF THE PROPERTY WAS VESTED AT THE TIME OF DEATH THE
PROPERTY BECOMES VESTED SOLELY IN THE SURVIVOR BY VIRTUE OF DEVISE BY OR
DESCENT FROM THE DECEASED HUSBAND OR WIFE, THE TIME OF OWNERSHIP OF  THE

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

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