BILL NUMBER: S5175A
SPONSOR: COMRIE
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to providing an
additional real property tax exemption for certain senior citizens
 
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to provide relief from the burden of
increasing real properly taxes (RPT) for certain income eligible elderly
individuals.
 
SUMMARY OF SPECIFIC PROVISIONS:
This bill would offer municipalities in New York the option to provide
older New Yorkers who are homeowners with low incomes a greater level of
RPT relief than can presently be offered through the existing structure
of the Senior Citizen RPT Exemption Program. Municipalities would be
granted the option to offer senior citizens with incomes below the maxi-
mum income eligibility level additional exemption benefits up to a
sixty-five percent. This bill would not impact the income eligibility
limits for exemptions currently available.
 
EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER:
This bill would amend section 467 of the real property tax law.
 
JUSTIFICATION:
Senior citizens living on fixed incomes across the State are shouldering
an increasing amount of the real property tax burden each year. Since
1966, the maximum percentage of exemption local governments have been
able to offer senior citizens has remained at 50%.
This proposal would authorize localities the option to offer a RPT
exemption of up to 65* to seniors with incomes below the "maximum income
eligibility level" set by such locality.
Elderly homeowners with incomes less than the current maximum income
eligibility limit are most at risk of premature dislocation from their
homes as a result of increasing RPT rates and require the expansion of
benefits as proposed in this bill.
 
PRIOR LEGISLATIVE HISTORY:
2024: S8893 Comrie/ A6362 Weprin
04/05/23 referred to real property taxation - Weprin
01/03/24 referred to real property taxation - Weprin
 
FISCAL IMPLICATIONS:
None to state
 
EFFECTIVE DATE:
Immediately

Statutes affected:
S5175: 467 real property tax law, 467(1) real property tax law
S5175A: 467 real property tax law, 467(1) real property tax law