BILL NUMBER: S1639
SPONSOR: TEDISCO
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to increasing the
enhanced STAR property tax deduction and to providing a total exemption
for school taxes for certain persons eighty years of age and older
 
PURPOSE OR GENERAL IDEA OF BILL:
Increases the enhanced STAR property tax deduction for tax for final
assessment rolls to be completed after two thousand twenty-two and elim-
inates school taxes persons eighty and older
 
SUMMARY OF SPECIFIC PROVISIONS:
1. This act shall be known and may be cited as the "Two STAR Act".
§ 2. Clause (C) of subparagraph (i) of paragraph (b) of subdivision 4 of
section 425 of the real property tax law, as amended by section 3 of
part E of chapter 83 of the laws of 2002, is amended to read as follows:
(C) For final assessment rolls to be completed (in each ensuing year)
between two thousand four and two thousand twenty-two, the applicable
income tax year, cost-of-living-adjustment percentage and applicable
increase percentage shall all be advanced by one year, and the income
standard shall be the previously-applicable income standard increased by
the new cost-of-living-adjustment percentage. If there should be a year
for which there is no applicable increase percentage due to a general
benefit increase as defined by subdivision three of subsection (i) of
section four hundred fifteen of title forty-two of the United States
code, the applicable increase percentage for purposes of this computa-
tion shall be deemed to be the percentage which would have yielded that
general benefit increase.
§ 3. Clause (C-1) of subparagraph (i) of paragraph (b) of subdivision 4
of section 425 of the real property tax law is re-lettered clause (C-2)
and a new clause (C-1) is added to read as follows:
(C-1) For final assessment rolls to be completed after two thousand
twenty-two, the applicable income tax year, cost-of-living-adjustment
percentage and applicable increase percentage shall all be advanced by
one year, and the income standard shall be twice the previously-applica-
ble income standard increased by the new cost-of-living-adjustment
percentage. If there should be a year for which there is no applicable
increase percentage due to a general benefit increase as defined by
subdivision three of subsection (i) of section four hundred fifteen of
title forty-two of the United States code, the applicable increase
percentage for purposes of this computation shall be deemed to be the
percentage which would have yielded that general benefit increase.
§ 4. Section 425 of the real property tax law is amended by adding a new
subdivision 4-b related to exemptions.
§ 5. Paragraph (a) of subdivision 2 of section 425 of the real property
tax law, as amended by section 1 of part E of chapter 83 of the laws of
2002, is amended to read as follows:
(a) Overview. There shall be (two) three variations of the exemption
authorized by this section: (i) an exemption for property owned by
persons who satisfy the criteria set forth in subdivision three of this
section, which shall be known as the "basic" STAR exemption(, and); (ii)
an exemption for property owned by senior citizens who satisfy the
criteria set forth in both subdivisions three and four of this section,
which shall be known as the "enhanced" STAR exemption; and (iii) an
exemption for property owned by senior citizens who satisfy the criteria
set forth in subdivision four-b of this section. The exempt amount for
each assessing unit shall be determined annually as set forth in this
subdivision, by multiplying the "base figure" by the locally-applicable
"sales price differential factor," if any, multiplying the product by
the appropriate "equalization factor" for the assessing unit, and, if
necessary, increasing the result to equal the applicable "floor." The
result is then rounded to the nearest multiple of ten dollars.
 
JUSTIFICATION:
Inflation and energy costs have presented our citizens with unique chal-
lenges, but the most egregious tax and cost is to the beleaguered home-
owner whom in many instances has owned a home for years and is now on a
fixed income.
The value of one's home is no clear indication of their ability to pay
exorbitant taxes and all other costs associated with maintaining a prop-
erty.
This measure provides much-needed tax relief to struggling homeowners.
 
PRIOR LEGISLATIVE HISTORY:
03/25/22: S.8653 REFERRED TO AGING
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to assessment
rolls completed on and after January 1, 2023.

Statutes affected:
S1639: 425 real property tax law, 425(4) real property tax law