Assembly Bill A9557

2023-2024 Legislative Session

Increases the income thresholds for eligibility for the senior citizen and disabled person property tax exemptions

download bill text pdf

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Current 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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2023-A9557 (ACTIVE) - Details

See Senate Version of this Bill:
S5948
Current Committee:
Assembly Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §§467 & 459-c, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7803
2019-2020: S1244
2021-2022: S6523

2023-A9557 (ACTIVE) - Summary

Increases the income thresholds for eligibility for the senior citizen and disabled person property tax exemptions; applies to any local law, resolution or ordinance amended or adopted on and after the effective date of this act.

2023-A9557 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9557
 
                           I N  A S S E M B L Y
 
                              March 20, 2024
                                ___________
 
 Introduced by M. of A. LUNSFORD -- read once and referred to the Commit-
   tee on Aging
 
 AN  ACT  to  amend  the real property tax law, in relation to the senior
   citizen and disabled property owner exemption
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph (b) of subdivision 1 of section 467 of the real
 property tax law, as amended by section 1 of part B of  chapter  686  of
 the laws of 2022, is amended to read as follows:
   (b)  (1)  Any  local  law, ordinance or resolution adopted pursuant to
 paragraph (a) of this subdivision may be amended, or a local law,  ordi-
 nance  or  resolution  may  be adopted, to provide an exemption so as to
 increase the maximum income eligibility level of such  municipal  corpo-
 ration  as provided in subdivision 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 OR PILOT
 
 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
                   $10,000)
 [(M+ $3,000 or more) but
    less than (M+ $3,900)                           30 per centum
 (M+ $3,900 or more) but
    less than (M+ $4,800)                           25 per centum
 (M+ $4,800 or more) but
    less than (M+ $5,700)                          20 per centum]
 
   (2) Any local law, ordinance or resolution adopted pursuant to subpar-
 agraph  one  of this paragraph may be amended, or a local law, ordinance
 or resolution may be adopted, to provide an exemption so as to  increase
              

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