Assembly Bill A10154

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10154
 
                           I N  A S S E M B L Y
 
                             February 12, 2026
                                ___________
 
 Introduced  by M. of A. BENDETT -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  providing  an
   age-adjusted  increase  to  the school tax relief (STAR) exemption for
   basic and enhanced STAR recipients
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph (b) of subdivision 2 of section 425 of the real
 property tax law is amended by adding a new subparagraph (vii)  to  read
 as follows:
   (VII) AGE-ADJUSTED BASE FIGURE. NOTWITHSTANDING ANY OTHER PROVISION OF
 THIS  SECTION,  FOR  PURPOSES OF COMPUTING THE EXEMPT AMOUNT PURSUANT TO
 SUBDIVISION TWO OF THIS SECTION, THE BASE FIGURE FOR BOTH THE BASIC STAR
 EXEMPTION AND THE ENHANCED STAR EXEMPTION SHALL BE SUBJECT  TO  THE  AGE
 ADJUSTMENT  PROVIDED IN PARAGRAPH (D) OF THIS SUBDIVISION WHEN THE PROP-
 ERTY IS OWNED BY ONE OR MORE ELIGIBLE OWNERS WHO HAVE ATTAINED  THE  AGE
 OF SIXTY-FIVE YEARS.
   §  2.  Subdivision  2  of  section 425 of the real property tax law is
 amended by adding a new paragraph (m) to read as follows:
   (M) AGE-ADJUSTED BASE FIGURE. (I)  FOR  PURPOSES  OF  THIS  PARAGRAPH,
 "AGE"  SHALL  MEAN  THE AGE, AS OF DECEMBER THIRTY-FIRST OF THE CALENDAR
 YEAR PRECEDING THE APPLICABLE TAXABLE STATUS DATE, OF THE YOUNGEST OWNER
 WHO (A) PRIMARILY RESIDES ON THE PROPERTY, AND (B)  OTHERWISE  SATISFIES
 THE  ELIGIBILITY  REQUIREMENTS  FOR  EITHER  THE  BASIC OR ENHANCED STAR
 EXEMPTION UNDER THIS SECTION.
   (II) WHERE THE AGE OF SUCH YOUNGEST ELIGIBLE OWNER IS SIXTY-FIVE YEARS
 OR GREATER, THE BASE FIGURE OTHERWISE APPLICABLE UNDER PARAGRAPH (B)  OF
 THIS  SUBDIVISION  SHALL  BE  INCREASED  BY THE FOLLOWING AGE ADJUSTMENT
 AMOUNT:
   (A) AGE SIXTY-FIVE THROUGH SIXTY-NINE: AN INCREASE OF TEN  PERCENT  OF
 SUCH BASE FIGURE;
   (B) AGE SEVENTY THROUGH SEVENTY-FOUR: AN INCREASE OF TWENTY PERCENT OF
 SUCH BASE FIGURE;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14680-01-6
              

 A. 10154                            2
 
   (C)  AGE  SEVENTY-FIVE  THROUGH  SEVENTY-NINE:  AN  INCREASE OF THIRTY
 PERCENT OF SUCH BASE FIGURE;
   (D)  AGE  EIGHTY  THROUGH EIGHTY-FOUR: AN INCREASE OF FORTY PERCENT OF
 SUCH BASE FIGURE;
   (E) AGE EIGHTY-FIVE AND OVER: AN INCREASE OF  FIFTY  PERCENT  OF  SUCH
 BASE FIGURE.
   (III)  THE  COMMISSIONER  SHALL  ANNUALLY INCORPORATE THE AGE-ADJUSTED
 BASE FIGURE INTO THE CALCULATION OF THE EXEMPT AMOUNT FOR EACH ASSESSING
 UNIT IN THE SAME MANNER AS OTHER ADJUSTMENTS REQUIRED BY  THIS  SUBDIVI-
 SION,  INCLUDING  THE  SALES  PRICE  DIFFERENTIAL  FACTOR,  EQUALIZATION
 FACTOR, FLOOR, AND ANY ADJUSTMENT REQUIRED  FOR  CITY  SCHOOL  DISTRICTS
 PURSUANT TO PARAGRAPH (J) OF THIS SUBDIVISION.
   (IV)  THE  AGE  ADJUSTMENT  PROVIDED  BY THIS PARAGRAPH SHALL APPLY TO
 PROPERTY OTHERWISE ELIGIBLE FOR THE BASIC STAR EXEMPTION UNDER  SUBDIVI-
 SION  THREE  OF  THIS SECTION AND TO PROPERTY OTHERWISE ELIGIBLE FOR THE
 ENHANCED STAR EXEMPTION UNDER SUBDIVISION FOUR OF THIS SECTION.
   (V) IN NO EVENT SHALL APPLICATION OF THIS PARAGRAPH REDUCE THE TAXABLE
 ASSESSED VALUE OF ANY PROPERTY BELOW ZERO OR ENTITLE ANY PARCEL TO  MORE
 THAN ONE EXEMPTION UNDER THIS SECTION FOR ANY SCHOOL YEAR.
   §  3.  Subdivision  4  of  section 425 of the real property tax law is
 amended by adding a new paragraph (d) to read as follows:
   (D) AGE-ADJUSTED BASE FIGURE. THE ENHANCED STAR  EXEMPTION  AUTHORIZED
 BY THIS SUBDIVISION SHALL BE COMPUTED USING THE AGE-ADJUSTED BASE FIGURE
 PROVIDED  IN  PARAGRAPH  (D)  OF  SUBDIVISION TWO OF THIS SECTION, WHERE
 APPLICABLE, IN ADDITION TO THE INCOME-BASED ADJUSTMENTS AND  ELIGIBILITY
 REQUIREMENTS SET FORTH IN THIS SUBDIVISION.
   §  4. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law and shall  first  apply
 to assessment rolls prepared on the basis of taxable status dates occur-
 ring on or after such effective date.