Assembly Bill A3979

2015-2016 Legislative Session

Allows real property tax freeze for real property owned by taxpayers sixty-five or over

download bill text pdf

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Archive: Last 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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2015-A3979 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Add §467-i, amd §467, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5334
2011-2012: A5526
2013-2014: A5585
2017-2018: A2052
2019-2020: A2042
2021-2022: A8484

2015-A3979 (ACTIVE) - Summary

Allows a freeze to be placed upon real property taxes assessed against persons 65 years of age or older having earnings of not more than $32,000 and who have held title to the property for at least two years prior to making an application; requires county to provide notification of those provisions; requires each governing board of any municipal corporation to notify each person owning residential property.

2015-A3979 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3979

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 28, 2015
                               ___________

Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
  Committee on Real Property Taxation

AN ACT to amend the real property tax law, in  relation  to  allowing  a
  real property tax freeze for property owned by certain persons over 65
  years of age

  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-i to read as follows:
  S  467-I. REAL PROPERTY TAX FREEZE FOR CERTAIN PERSONS OVER SIXTY-FIVE
YEARS OF AGE. 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
HUSBAND AND WIFE, ONE OF WHOM IS SIXTY-FIVE YEARS OF AGE OR OVER, MAY BE
SUBJECT TO A TAXATION FREEZE PROVIDED THE GOVERNING BOARD OF ANY MUNICI-
PAL CORPORATION IN WHICH THE REAL PROPERTY  IS  LOCATED    AFTER  PUBLIC
HEARING, ADOPTS A LOCAL LAW, ORDINANCE OR RESOLUTION PROVIDING THAT REAL
PROPERTY TAXES FOR SUCH PROPERTY BE FROZEN AT THE AMOUNTS PAYABLE AT THE
TIME SUCH APPLICATION FOR FREEZE IS MADE.
  2. NO FREEZE SHALL BE GRANTED:
  (A) IF THE INCOME OF THE OWNER OR THE COMBINED INCOME OF THE OWNERS OF
THE  PROPERTY  FOR THE INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF
MAKING APPLICATION FOR THE FREEZE EXCEEDS THE SUM OF THIRTY-TWO THOUSAND
DOLLARS. INCOME TAX YEAR SHALL MEAN THE TWELVE MONTH  PERIOD  FOR  WHICH
THE OWNER OR OWNERS FILED A FEDERAL PERSONAL INCOME TAX RETURN, OR IF NO
SUCH RETURN IS FILED, THE CALENDAR YEAR. WHERE TITLE IS VESTED IN EITHER
THE  HUSBAND OR THE WIFE, THEIR COMBINED INCOME MAY NOT EXCEED SUCH SUM.
SUCH INCOME SHALL  INCLUDE  SOCIAL  SECURITY  AND  RETIREMENT  BENEFITS,
INTEREST,  DIVIDENDS,  TOTAL GAIN FROM THE SALE OR EXCHANGE OF A CAPITAL
ASSET WHICH MAY BE OFFSET BY A LOSS FROM THE SALE OR EXCHANGE OF A CAPI-
TAL ASSET IN THE SAME INCOME TAX YEAR,  NET  RENTAL  INCOME,  SALARY  OR
EARNINGS,  AND  NET INCOME FROM SELF-EMPLOYMENT, BUT SHALL NOT INCLUDE A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07352-01-5
              

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