Bill Text: NY A05972 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to a real property tax freeze for individuals 65 years of age or older.

Spectrum: Moderate Partisan Bill (Republican 13-4)

Status: (Introduced - Dead) 2018-05-08 - held for consideration in real property taxation [A05972 Detail]

Download: New_York-2017-A05972-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5972
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 21, 2017
                                       ___________
        Introduced by M. of A. CASTORINA, DiPIETRO, GIGLIO, GRAF, FINCH, MONTES-
          ANO,  ORTIZ,  RAIA,  VANEL,  WILLIAMS -- read once and referred to the
          Committee on Real Property Taxation
        AN ACT to amend the real property tax law, in relation to establishing a
          real property tax freeze for property owned by persons 65 years of age
          or older
          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 467-k to read as follows:
     3    § 467-k. Real property tax freeze for persons sixty-five years of  age
     4  and  over. 1. Real property owned by one or more persons, one of whom is
     5  sixty-five years of age or over shall be subject to  a  taxation  freeze
     6  and  the  real property taxes for such property be frozen at the amounts
     7  payable at the time the one or more persons turns  sixty-five  years  of
     8  age.
     9    2.  Real  property owned by one or more persons, one of whom is sixty-
    10  five years of age or older before the effective date  of  this  section,
    11  shall  be  subject  to a taxation freeze and the real property taxes for
    12  such property be frozen at the amounts payable at the time of the effec-
    13  tive date of this section.
    14    § 2. This act shall take effect on the first of February next succeed-
    15  ing the date on which it shall have become a  law  and  shall  apply  to
    16  assessment rolls prepared on the basis of taxable status dates occurring
    17  on or after such date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09284-01-7