Bill Text: NY A00400 | 2011-2012 | General Assembly | Introduced

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Bill Title: Caps the amount of taxes a senior has to pay on his or her real property at the amount such individual paid in the year in which he or she turned 70; provides that the individual claiming the limitation must be the owner of the property and must reside in the property for at least seventy-five percent of the year.

Spectrum: Partisan Bill (Democrat 10-0)

Status: (Introduced - Dead) 2012-01-04 - referred to real property taxation [A00400 Detail]

Download: New_York-2011-A00400-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          400
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced  by  M. of A. GUNTHER, COLTON, PERRY -- Multi-Sponsored by --
         M. of A. BOYLAND, COOK, HOOPER, LATIMER, PHEFFER,  SWEENEY,  TITUS  --
         read once and referred to the Committee on Real Property Taxation
       AN ACT to amend the real property tax law, in relation to the limitation
         of taxation on certain seniors
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The real property tax  law  is  amended  by  adding  a  new
    2  section 496 to read as follows:
    3    S  496.  LIMITATION  OF  TAXATION ON CERTAIN SENIORS. 1. THE AMOUNT OF
    4  TAXES PAID ON REAL PROPERTY BY QUALIFIED SENIORS  IN  SUBSEQUENT  YEARS,
    5  INCLUDING  SCHOOL  TAXES, SHALL NOT EXCEED THE AMOUNT PAID BY SUCH INDI-
    6  VIDUAL IN THE YEAR IN WHICH HE OR SHE TURNS SEVENTY YEARS OF AGE.
    7    2. FOR PURPOSES OF THIS SECTION, A QUALIFIED SENIOR IS  AN  INDIVIDUAL
    8  WHO IS:
    9    A. THE OWNER OF THE SUBJECT PROPERTY; AND
   10    B.  RESIDES AT THE PROPERTY FOR AT LEAST TWO HUNDRED SEVENTY-FOUR DAYS
   11  IN ANY GIVEN YEAR; AND
   12    C. IS AT LEAST SEVENTY YEARS OF AGE.
   13    S 2. This act shall take effect immediately and  shall  apply  to  all
   14  real property tax assessments occurring on or after such effective date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02081-01-1