Authorizes localities to provide for an additional real property tax exemption for senior citizens who meet the income eligibility limits and other criteria to the extent of sixty percent of the assessed valuation of such real property.

---

S4365-2011 Actions

• Jan 23, 2012: PRINT NUMBER 4365A
• Jan 23, 2012: AMEND AND RECOMMIT TO AGING
• Jan 4, 2012: REFERRED TO AGING
• Jun 24, 2011: COMMITTED TO RULES
• May 25, 2011: ADVANCED TO THIRD READING
• May 24, 2011: 2ND REPORT CAL.
• May 23, 2011: 1ST REPORT CAL.792
• Mar 31, 2011: REFERRED TO AGING

S4365-2011 Meetings

Aging: May 23, 2011

S4365-2011 Calendars

Floor Calendar: May 24, 2011 , Floor Calendar: May 25, 2011 , Floor Calendar: Jun 1, 2011 , Floor Calendar: Jun 2, 2011 , Floor Calendar: Jun 6, 2011 , Floor Calendar: Jun 7, 2011 , Floor Calendar: Jun 13, 2011 , Floor Calendar: Jun 14, 2011 , Floor Calendar: Jun 15, 2011 , Floor Calendar: Jun 16, 2011 , Floor Calendar: Jun 17, 2011 , Floor Calendar: Jun 21, 2011 , Floor Calendar: Jun 22, 2011 , Floor Calendar: Jun 23, 2011 , Floor Calendar: Jun 24, 2011

S4365-2011 Votes

S4365-2011 Memo

BILL NUMBER:S4365

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:
The purpose of this bill is to provide relief from the burden of
increasing real property taxes (RPT) for certain income eligible
elderly individuals.

SUMMARY OF PROVISIONS:
This bill would offer local governments 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. Local governments would
be granted the option to offer senior citizens with incomes of
$22,000 or less a sixty percent RPT exemption. In addition, local
governments would also be authorized to expand the sliding scale
portion of the program by offering seniors citizens who have incomes
of $23,000 an exemption of fifty-five percent.

Currently, local governments can only exempt eligible senior citizens
who have incomes of $24,000 or less from paying fifty-percent of
their RPTs. Also, presently the largest exemption available through
the sliding scale portion of the program is forty-live percent and is
available to senior citizens with an income of $25,000. 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%. In an attempt to provide older New Yorkers some additional
relief from the burden of RPTs, the Legislature has permitted local
governments the option to grant periodic increases in the maximum
income eligibility limit for the 50% senior citizen RPT exemption.
Currently, the income eligibility limit for this level of benefit is
$24,000.

This proposal would authorize localities the option to offer a sixty
and fifty-five percent RPT exemption to seniors with incomes below
$22,000. 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.

LEGISLATIVE HISTORY:
2010: A.7934 - Referred to Real Property Taxation.


FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None to State.

EFFECTIVE DATE:
Immediately; would apply to taxable years beginning on and after
January 1, 2013.

S4365-2011 Text

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

                                    4365

                         2011-2012 Regular Sessions

                              I N  SENATE

                               March 31, 2011
                                 ___________

  Introduced  by  Sen.  LANZA  -- 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  providing  an
    additional real property tax exemption for certain senior citizens

    THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section 1. Section 467 of the real property  tax  law  is  amended  by
  adding a new subdivision 1-a to read as follows:

    1-A.  (A)  ANY  LOCAL LAW, ORDINANCE OR RESOLUTION ADOPTED PURSUANT TO
  PARAGRAPH (A) OF SUBDIVISION ONE OF THIS SECTION MAY BE  AMENDED,  OR  A
  LOCAL  LAW,  ORDINANCE  OR  RESOLUTION  MAY  BE  ADOPTED,  TO PROVIDE AN
  EXEMPTION TO THE EXTENT OF SIXTY PERCENT OF THE  ASSESSED  VALUATION  OF
  REAL  PROPERTY  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 AN EXEMPTION EXCEEDS  THE  SUM  OF  THREE
  THOUSAND DOLLARS, OR SUCH OTHER SUM NOT LESS THAN THREE THOUSAND DOLLARS
  BUT  NOT  MORE  THAN  TWENTY-TWO  THOUSAND DOLLARS, WHILE SATISFYING ALL
  OTHER ELIGIBILITY CRITERIA ESTABLISHED  PURSUANT  TO  THIS  SECTION.  NO
  OWNER  OR  OWNERS  OF  PROPERTY ELIGIBLE FOR A REDUCTION IN THE ASSESSED
  VALUATION PURSUANT TO THIS SUBDIVISION SHALL BE ELIGIBLE FOR  A  FURTHER
  EXEMPTION PURSUANT TO THIS SECTION.
    (B)  ANY  LOCAL LAW, ORDINANCE OR RESOLUTION ADOPTED PURSUANT TO PARA-
  GRAPH (A) OF THIS SUBDIVISION MAY BE AMENDED, OR A LOCAL LAW,  ORDINANCE
  OR  RESOLUTION MAY BE ADOPTED, TO PROVIDE AN EXEMPTION SO AS TO INCREASE
  THE MAXIMUM INCOME ELIGIBILITY LEVEL OF SUCH  MUNICIPAL  CORPORATION  AS
  PROVIDED IN THIS SUBDIVISION (REPRESENTED IN THE HEREINBELOW SCHEDULE AS
  M) TO THE EXTENT PROVIDED IN THE FOLLOWING SCHEDULE:


  ANNUAL INCOME          PERCENTAGE OF ASSESSED VALUATION
                               EXEMPT FROM TAXATION

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD05099-01-1

 S. 4365                             2

  MORE THAN (M) BUT
  LESS THAN (M+ $1,000)                  55%

  MORE THAN (M) BUT
  LESS THAN (M+ $2,000)                 50%
    S 2. This act shall take effect immediately and shall apply to taxable
  years beginning on and after January 1, 2013.