Assembly Bill A7872

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7872
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 11, 2025
                                ___________
 
 Introduced  by M. of A. ALVAREZ -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to capping  prop-
   erty taxes paid on primary residences by persons over sixty-five
 
   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-o to read as follows:
   §  467-O. FREEZE FOR PERSONS SIXTY-FIVE YEARS OF AGE OR OVER. 1.  REAL
 PROPERTY OWNED BY ONE OR MORE PERSONS, EACH OF WHOM IS SIXTY-FIVE  YEARS
 OF  AGE OR OVER, OR REAL PROPERTY OWNED BY A MARRIED COUPLE, A COUPLE IN
 A DOMESTIC PARTNERSHIP, OR BY SIBLINGS, ONE OF WHOM IS SIXTY-FIVE  YEARS
 OF  AGE  OR OVER, OR REAL PROPERTY OWNED BY ONE OR MORE PERSONS, SOME OF
 WHOM QUALIFY UNDER THIS SECTION AND THE OTHERS  OF  WHOM  QUALIFY  UNDER
 SECTION  FOUR  HUNDRED  FIFTY-NINE-C OF THIS TITLE, SHALL BE EXEMPT FROM
 PAYMENT IN LIEU OF TAXES OR FROM TAXATION BY ANY  MUNICIPAL  CORPORATION
 IN  WHICH  LOCATED  TO  THE EXTENT BEYOND THE RATE WHICH SUCH PERSON WAS
 ASSESSED OR OBLIGATED TO PAY FOR THE TAX YEAR DURING WHICH  SUCH  PERSON
 ATTAINED  SIXTY-FIVE YEARS OF AGE. FOR THE PURPOSES OF THIS SECTION, THE
 TERM "SIBLING" SHALL INCLUDE PERSONS WHOSE RELATIONSHIP AS SIBLINGS  HAS
 BEEN ESTABLISHED THROUGH EITHER HALF BLOOD, WHOLE BLOOD OR ADOPTION.
   2. EXEMPTION FROM TAXATION FOR SCHOOL PURPOSES SHALL NOT BE GRANTED IN
 THE  CASE OF REAL PROPERTY WHERE A CHILD RESIDES IF SUCH CHILD ATTENDS A
 PUBLIC SCHOOL OF ELEMENTARY OR SECONDARY EDUCATION, UNLESS THE GOVERNING
 BOARD OF THE SCHOOL DISTRICT IN WHICH THE  PROPERTY  IS  LOCATED,  AFTER
 PUBLIC  HEARING,  ADOPTS  A  RESOLUTION  PROVIDING  FOR  SUCH EXEMPTION;
 PROVIDED THAT ANY SUCH RESOLUTION SHALL CONDITION  SUCH  EXEMPTION  UPON
 SATISFACTORY  PROOF THAT THE CHILD WAS NOT BROUGHT INTO THE RESIDENCE IN
 WHOLE OR IN SUBSTANTIAL PART FOR THE PURPOSE OF ATTENDING  A  PARTICULAR
 SCHOOL WITHIN THE DISTRICT.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11469-01-5
 A. 7872                             2
              

 
   3.  IN  ORDER TO QUALIFY FOR AN EXEMPTION UNDER THIS SECTION, A PERSON
 MUST:
   (A) BE SIXTY-FIVE YEARS OF AGE OR OLDER;
   (B)  OWN OR JOINTLY OWN A SINGLE-FAMILY RESIDENCE OR THE EQUIVALENT OF
 A SINGLE-FAMILY RESIDENCE IN A MULTIPLE DWELLING, INCLUDING MULTIPLE-FA-
 MILY HOMES, APARTMENTS, CO-OPERATIVE APARTMENTS, AND CONDOMINIUMS; AND
   (C) RESIDE IN AND DECLARE SUCH  RESIDENCE  AS  SUCH  PERSON'S  PRIMARY
 RESIDENCE FOR PERSONAL INCOME TAX PURPOSES FOR THE SAME YEAR.
   4. (A) ELIGIBILITY OR RELIEF UNDER THIS SECTION SHALL NOT BE CONSTRUED
 AS  INELIGIBILITY  FOR  RELIEF  FOR A SCHOOL TAX RELIEF (STAR) EXEMPTION
 PURSUANT TO SECTION FOUR HUNDRED TWENTY-FIVE OF THIS TITLE,  IN  ACCORD-
 ANCE WITH SUBDIVISION TWO OF THIS SECTION.
   (B) IF, PRIOR TO ATTAINING THE AGE OF SIXTY-FIVE, A TAXPAYER IS ELIGI-
 BLE  FOR  OTHER  RELIEF UNDER THIS CHAPTER, ONCE SUCH PERSON REACHES THE
 AGE OF SIXTY-FIVE, THE RATE OF TAX ASSESSED  PURSUANT  TO  THIS  SECTION
 SHALL  BE  EQUAL  TO  SUCH  PERSON'S TAX OBLIGATION THE YEAR THEY ATTAIN
 SIXTY-FIVE YEARS OF AGE ONCE ALL GRANTED RELIEF IS DEDUCTED.
   (C) ADDITIONAL REAL PROPERTY TAX RELIEF FOR WHICH A TAXPAYER IS ELIGI-
 BLE MAY BE GRANTED AFTER SUCH PERSON REACHES THE AGE OF SIXTY-FIVE.
   (D) INDIVIDUALS WHO HAVE MOVED THEIR  PRIMARY  RESIDENCE  OR  WHO  HAD
 ALREADY  ATTAINED SIXTY-FIVE YEARS OF AGE PRIOR TO THE EFFECTIVE DATE OF
 THIS SECTION AND MEET THE ELIGIBILITY REQUIREMENTS PURSUANT TO  SUBDIVI-
 SION  THREE OF THIS SECTION SHALL BE ASSESSED THE REAL PROPERTY TAX RATE
 FOR THE CURRENT TAXABLE YEAR,  AND  SUCH  RATE  SHALL  NOT  INCREASE  IN
 ACCORDANCE WITH THIS SECTION.
   (E)  AN  EXEMPTION  GRANTED PURSUANT TO THIS SECTION SHALL BE VALID SO
 LONG AS THE ELIGIBLE OWNER MAINTAINS OWNERSHIP AND PRIMARY RESIDENCE  OF
 THE PROPERTY. UPON SUCH INDIVIDUAL'S DEATH OR RELOCATION AND THERE IS NO
 JOINT  OWNER PRIVY TO THE EXCEPTION, A SUCCESSIVE OWNER SHALL BE SUBJECT
 TO A NEW ASSESSMENT UNLESS SUCH SUCCESSIVE  OWNER  OR  OCCUPANT  IS  THE
 SPOUSE,  DOMESTIC  PARTNER, OR SIBLING, AS DEFINED IN SUBDIVISION ONE OF
 THIS SECTION, OF THE EXEMPTED OWNER AND IS AT LEAST SIXTY-TWO  YEARS  OF
 AGE.
   §  2. 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  apply  to
 assessment rolls prepared on the basis of taxable status dates occurring
 on or after such date.