Bill Text: NY S03047 | 2011-2012 | General Assembly | Introduced

New York Senate Bill 3047 (Prior Session Legislation)

Introduced

Bill Title: Grants a tax deferment for persons sixty-five years or over who own and occupy real property in a city having a population of one million or more persons.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-02-07 - REFERRED TO AGING [S03047 Detail]

Download: New_York-2011-S03047-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3047
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                   February 7, 2011
                                      ___________
       Introduced  by  Sen.  KRUGER -- 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 granting a tax
         deferment for persons sixty-five years of age or older who reside in a
         city having a population of one million or more persons
         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-g to read as follows:
    3    S 467-G. DEFERRAL OF REAL PROPERTY TAX FOR PERSONS SIXTY-FIVE YEARS OF
    4  AGE OR OLDER RESIDING IN A CITY HAVING A POPULATION OF  ONE  MILLION  OR
    5  MORE  PERSONS.  1.  (A)  ANY CITY OF ONE MILLION OR MORE PERSONS MAY, BY
    6  LOCAL LAW, GRANT A TAX DEFERMENT FOR REAL PROPERTY OWNED AND OCCUPIED BY
    7  ONE OR MORE PERSONS, EACH OF WHOM IS SIXTY-FIVE YEARS OF AGE  OR  OLDER,
    8  OR  REAL PROPERTY OWNED AND OCCUPIED BY HUSBAND AND WIFE OR BY SIBLINGS,
    9  ONE OF WHOM IS SIXTY-FIVE YEARS OF AGE OR OLDER. FOR  PURPOSES  OF  THIS
   10  SECTION,  "SIBLING"  SHALL  MEAN  A BROTHER OR A SISTER, WHETHER RELATED
   11  THROUGH HALF BLOOD, WHOLE BLOOD OR ADOPTION.
   12    (B) APPLICATION FOR SUCH DEFERMENT SHALL BE MADE ANNUALLY BY THE OWNER
   13  OR OWNERS OF SUCH REAL PROPERTY. NO APPLICATION FOR SUCH DEFERMENT SHALL
   14  BE GRANTED TO ANY OWNER WITH A TOTAL  INCOME  EXCEEDING  FIFTY  THOUSAND
   15  DOLLARS.  FOR  PURPOSES  OF  THIS SECTION, "INCOME" SHALL MEAN THE GROSS
   16  INCOME OF THE OWNER OR OWNERS OF SUCH PROPERTY FOR THE INCOME  TAX  YEAR
   17  IMMEDIATELY  PRECEDING  THE  DATE  OF APPLICATION FOR SUCH DEFERMENT AND
   18  SHALL INCLUDE SOCIAL SECURITY AND RETIREMENT BENEFITS,  INTEREST,  DIVI-
   19  DENDS, TOTAL GAIN FROM THE SALE OR EXCHANGE OF A CAPITAL ASSET WHICH MAY
   20  BE  OFFSET BY A LOSS FROM THE SALE OR EXCHANGE OF A CAPITAL ASSET IN THE
   21  SAME INCOME TAX YEAR, NET RENTAL INCOME, EARNED INCOME  FROM  SALARY  OR
   22  EARNINGS  AND  NET  INCOME FROM SELF-EMPLOYMENT, BUT SHALL NOT INCLUDE A
   23  RETURN OF CAPITAL, GIFTS OR INHERITANCES. THE AGE OF EACH OWNER OF  SUCH
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06390-01-1
       S. 3047                             2
    1  PROPERTY  SHALL  BE  THE  AGE  OF SUCH PERSON AT THE COMMENCEMENT OF THE
    2  CITY'S FISCAL YEAR FOR WHICH AN APPLICATION FOR TAX DEFERMENT IS MADE.
    3    2.  SUCH  DEFERMENT  SHALL EQUAL THE TOTAL PER CENTUM OF THE DEFERMENT
    4  BASE. FOR PURPOSES OF THIS SECTION,  "DEFERMENT  BASE"  SHALL  MEAN  THE
    5  INCREASE  IN  REAL  PROPERTY  TAX  ATTRIBUTABLE  TO  THE INCREASE IN THE
    6  ASSESSED VALUE OF SUCH PROPERTY FROM THE TAX YEAR IMMEDIATELY  PRECEDING
    7  THE YEAR IN WHICH SUCH PERSON REACHED THE AGE OF SIXTY-FIVE YEARS TO THE
    8  TAX YEAR FOR WHICH AN APPLICATION FOR TAX DEFERMENT IS MADE.
    9    3.  THE  AMOUNT  OF  TAXES  DEFERRED SHALL ACCRUE AGAINST SUCH PERSON,
   10  WITHOUT INTEREST, AND SHALL, ON THE  DATE  SUCH  DEFERMENT  IS  GRANTED,
   11  CONSTITUTE  A  LIEN  AGAINST  SUCH  PROPERTY IN FAVOR OF THE APPROPRIATE
   12  MUNICIPAL CORPORATION. THE OWNER OR  OWNERS  OF  SUCH  PROPERTY,  HAVING
   13  RECEIVED  SUCH  DEFERMENT  PURSUANT  TO  THIS SECTION, MAY, AT ANY TIME,
   14  TERMINATE THE DEFERMENT AND REMOVE THE RESULTANT LIEN ON  SAID  PROPERTY
   15  BY PAYING IN FULL THE CUMULATIVE AMOUNT OF SUCH LIEN.
   16    4.  A  TAX  DEFERMENT  GRANTED  TO A HUSBAND AND WIFE PURSUANT TO THIS
   17  SECTION, ONCE GRANTED, SHALL NOT BE  RESCINDED  SOLELY  BECAUSE  OF  THE
   18  DEATH  OF  THE  OLDER SPOUSE SO LONG AS THE SURVIVING SPOUSE IS AT LEAST
   19  SIXTY-TWO YEARS OF AGE. IN THE EVENT THAT THE SURVIVING SPOUSE  IS  LESS
   20  THAN SIXTY-TWO YEARS OF AGE, SUCH SURVIVING SPOUSE SHALL BE ELIGIBLE FOR
   21  THE  TAX  DEFERMENT  UPON  REACHING  SIXTY-TWO YEARS OF AGE PROVIDED ALL
   22  OTHER ELIGIBILITY REQUIREMENTS ARE MET.
   23    5. ANY PERSON WHO HAS ALREADY ATTAINED THE AGE OF SIXTY-FIVE YEARS  OR
   24  OLDER  IS  ELIGIBLE  FOR  SUCH  DEFERRAL  AND SHALL BE ENTITLED TO A TAX
   25  DEFERMENT BASED ON THE TAX YEAR IMMEDIATELY PRECEDING THE EFFECTIVE DATE
   26  OF THIS SECTION.
   27    S 2. This act shall take effect on the one hundred eightieth day after
   28  it shall have become a law.