Bill Text: NY S00198 | 2023-2024 | General Assembly | Introduced
Bill Title: Authorizes municipalities within the state of New York to establish a senior citizen longtime resident real property tax exemption.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-01-03 - REFERRED TO AGING [S00198 Detail]
Download: New_York-2023-S00198-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 198 2023-2024 Regular Sessions IN SENATE (Prefiled) January 4, 2023 ___________ Introduced by Sen. GALLIVAN -- 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 establishing a senior citizen longtime resident exemption in certain municipalities 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-m to read as follows: 3 § 467-m. Senior citizen longtime resident exemption. 1. Establishment. 4 Any municipal corporation, after conducting a public hearing, may adopt 5 a local law to grant a senior citizen longtime resident exemption pursu- 6 ant to this section. 7 2. Eligibility. No exemption shall be granted pursuant to this section 8 unless: 9 (1) the property is a one-, two- or three-family residential property 10 located within a United States census tract that has a median income not 11 exceeding sixteen thousand fifty-six dollars according to the two thou- 12 sand ten decennial census. A municipal corporation adopting the 13 provisions of this section may by local law further limit the exemption 14 to specific areas within such municipality experiencing an increase in 15 property values due to new development occurring therein, which put 16 senior citizen longtime residents at risk of displacement; 17 (2) the property serves as the primary residence of one or more of the 18 owners; 19 (3) all of the owners are at least sixty-five years of age or older, 20 or in the case of property owned by husband and wife or by siblings, one 21 of the owners is at least sixty-five years of age, as of the taxable 22 status date. At the option of the municipal corporation, which shall be 23 specified in the local law adopting the provisions of this section, any 24 person otherwise qualifying under this section shall not be denied the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00118-01-3S. 198 2 1 exemption under this section if he or she becomes sixty-five years of 2 age after the appropriate taxable status date and on or before December 3 thirty-first of the same year; 4 (4) one or more of the owners has owned and resided in the property 5 for no fewer than twenty-five consecutive years; and 6 (5) the total household income does not exceed thirty thousand dollars 7 for the latest preceding income tax year prior to the date of applica- 8 tion for such exemption. The term "income" as used in this section shall 9 mean the "adjusted gross income" for federal income tax purposes as 10 reported on the applicant's federal or state income tax return for the 11 applicable income tax year, subject to any subsequent amendments or 12 revisions, reduced by distributions, to the extent included in federal 13 adjusted gross income, received from an individual retirement account 14 and an individual retirement annuity; provided that if no such return 15 was filed for the applicable income tax year, "income" shall mean the 16 adjusted gross income that would have been so reported if such a return 17 had been filed. 18 3. Calculation of exemption. a. Except as provided in paragraph b of 19 this subdivision, a senior citizen longtime resident shall be exempt 20 from taxation and special ad valorem levies for every year in which the 21 property's current assessment exceeds the "base assessment." For the 22 purposes of this section the "base assessment" shall be the assessment 23 that appeared on the assessment roll immediately preceding the first 24 year in which an exemption was granted pursuant to this section. The 25 assessor shall annually calculate the exemption by subtracting the "base 26 assessment" from the current year's assessment. 27 b. Notwithstanding the provisions of paragraph a of this subdivision, 28 no exemption shall be allowed to the extent that the assessment 29 increased due to one or more of the following events: 30 (1) a physical improvement made to the property; 31 (2) a removal or reduction of an exemption on the eligible taxpayer's 32 primary residence, including a reduction of the STAR exempt amount 33 calculated pursuant to subdivision two of section four hundred twenty- 34 five of this title; or 35 (3) a revaluation that caused the assessment of the eligible taxpay- 36 er's primary residence to increase by a percentage that is less than or 37 equal to the applicable change in level of assessment. As used in this 38 section, the terms "revaluation" and "change in level of assessment" 39 shall have the same meanings as set forth in sections one hundred two 40 and twelve hundred twenty of this chapter, respectively. 41 4. Application for such exemption shall be made annually on a form 42 prescribed by the commissioner. Such application shall be made to the 43 applicable assessor on or before the taxable status date. No application 44 for such exemption shall be granted unless the eligibility criteria of 45 subdivision two of this section are met. 46 5. In the event that a property granted an exemption pursuant to this 47 section transfers ownership or otherwise ceases to meet the eligibility 48 requirements of the exemption in subdivision two of this section, the 49 exemption granted pursuant to this section shall be discontinued. Upon 50 determining that an exemption granted pursuant to this section should be 51 discontinued, the applicable assessor shall mail a notice so stating to 52 the owner or owners thereof at the time and in the manner provided by 53 section five hundred ten of this chapter. 54 6. The applicable assessor shall, on or before December first, mail to 55 each person who was granted an exemption pursuant to this section for 56 the current fiscal year, an application form for an exemption and aS. 198 3 1 notice that such application must be filed no later than the taxable 2 status date in order for the exemption to be granted or continued. Fail- 3 ure to mail any such application form or notice or the failure of such 4 person or persons to receive the same shall not prevent the levy, 5 collection and enforcement of the payment of the taxes on property owned 6 by such person or persons. 7 § 2. This act shall take effect immediately.
