Allows a property owned by at least one owner who is at least 65 years old or older to be eligible for an enhanced STAR exemption.
TITLE OF BILL: An act to amend the real property tax law, in relation to allowing a property to be eligible for an enhanced STAR exemption if at least one owner is at least 65 years old
PURPOSE: Allows a property owned by at least one owners who is at least 65 years old or older to be eligible for an enhanced STAR exemption.
SUMMARY OF PROVISIONS: Section 1. Subparagraph (i) of paragraph (a) of subdivision 4 of section 425 of the real property tax law is amended to change the first wording to "at least one".
JUSTIFICATION: New York State requires that all owners be 65 years of age unless, for jointly owned property, only one spouse or sibling must be at least 65 years of age. It is unfair to provide limited exceptions under certain relationships for jointly held property, whereas not all jointly owned property owners are required to be 65 years of age if they are the spouse or sibling of the one property owner who is 65. This bill would allow for the approval of the enhanced star property tax exemption for any property for which only one of the owners is 65 or older.
LEGISLATIVE HISTORY: 2012: S.6859 - Referred to Aging
FISCAL IMPLICATIONS: To be determined.
EFFECTIVE DATE: This act shall take effect immediately.
STATE OF NEW YORK ________________________________________________________________________ 275 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________Introduced by Sen. LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Aging AN ACT to amend the real property tax law, in relation to allowing a property to be eligible for an enhanced STAR exemption if at least one owner is at least 65 years old THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (i) of paragraph (a) of subdivision 4 of section 425 of the real property tax law, as amended by section 2 of part E of chapter 83 of the laws of 2002, is amended to read as follows: (i)
[All]AT LEAST ONE of the owners must be at least sixty-five years of age or older as of the date specified herein [, or in the case of property owned by husband and wife or by siblings, one of the owners must be at least sixty-five years of age as of that date]and the prop- erty must serve as the primary residence of that owner. For the two thousand--two thousand one school year, eligibility for the exemption shall be based upon age as of December thirty-first, two thousand. For each subsequent school year, the applicable date shall be advanced by one year. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01367-01-3