Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 28, 2014 |
held for consideration in real property taxation |
Apr 11, 2014 |
referred to real property taxation |
Assembly Bill A9331
2013-2014 Legislative Session
Sponsored By
KATZ
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
Actions
co-Sponsors
Andrew Raia
2013-A9331 (ACTIVE) - Details
- Current Committee:
- Assembly Real Property Taxation
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add §307-b, RPT L
- Versions Introduced in 2015-2016 Legislative Session:
-
A2567
2013-A9331 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9331 I N A S S E M B L Y April 11, 2014 ___________ Introduced by M. of A. KATZ -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to property tax assessments for senior citizens 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 307-b to read as follows: S 307-B. SENIOR CITIZEN PROPERTY TAX ASSESSMENT. 1. GENERAL. NOTWITH- STANDING ANY OTHER PROVISION OF LAW, PROPERTY TAX ASSESSMENTS FOR 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 BASED ON THE COMBINED INCOME OF THE OWNERS OF THE PROPERTY AND OF ANY OWNERS' SPOUSE RESIDING ON THE PREMISES FOR THE INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF THE PROPERTY TAX ASSESSMENT. 2. PROPERTY TAX CALCULATION. ALL REAL PROPERTY ENTITLED TO AN ASSESS- MENT BASED ON THIS SECTION SHALL BE TAXED, AT THE OWNERS' DISCRETION, BASED ON EITHER THE APPLICABLE TAX RATE FOR THE YEAR OR THREE PERCENT MULTIPLIED BY THE COMBINED INCOME OF THE OWNERS OF THE PROPERTY AND OF ANY OWNERS' SPOUSE RESIDING ON THE PREMISES. 3. INCOME. THE TERM "INCOME" AS USED HEREIN SHALL MEAN THE "ADJUSTED GROSS INCOME" FOR FEDERAL INCOME TAX PURPOSES AS REPORTED ON THE INDI- VIDUAL'S FEDERAL OR STATE INCOME TAX RETURN, SUBJECT TO ANY SUBSEQUENT AMENDMENTS OR REVISIONS, REDUCED BY DISTRIBUTIONS, TO THE EXTENT INCLUDED IN FEDERAL ADJUSTED GROSS INCOME, RECEIVED FROM AN INDIVIDUAL RETIREMENT ACCOUNT AND AN INDIVIDUAL RETIREMENT ANNUITY; PROVIDED THAT IF NO SUCH RETURN WAS FILED FOR THE APPLICABLE INCOME TAX YEAR, "INCOME" SHALL MEAN THE ADJUSTED GROSS INCOME THAT WOULD HAVE BEEN SO REPORTED IF SUCH A RETURN HAD BEEN FILED. 4. PROPERTY ELIGIBILITY REQUIREMENTS. TO QUALIFY FOR A SENIOR CITIZEN PROPERTY TAX ASSESSMENT PURSUANT TO THIS SECTION, THE PROPERTY MUST BE A ONE, TWO OR THREE FAMILY RESIDENCE, A FARM DWELLING OR RESIDENTIAL PROP- ERTY HELD IN CONDOMINIUM OR COOPERATIVE FORM OF OWNERSHIP AND MUST SERVE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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