Bill Text: NY S03595 | 2013-2014 | General Assembly | Amended

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Bill Title: Authorizes localities to provide for an additional real property tax exemption for senior citizens who meet the income eligibility limits and other criteria to the extent of sixty percent of the assessed valuation of such real property.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-02-10 - PRINT NUMBER 3595A [S03595 Detail]

Download: New_York-2013-S03595-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        3595--A
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   February 7, 2013
                                      ___________
       Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Aging  --  recommitted  to
         the  Committee  on  Aging  in accordance with Senate Rule 6, sec. 8 --
         committee discharged, bill amended, ordered reprinted as  amended  and
         recommitted to said committee
       AN  ACT  to amend the real property tax law, in relation to providing an
         additional real property tax exemption for certain senior citizens
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section  467  of  the real property tax law is amended by
    2  adding a new subdivision 1-a to read as follows:
    3    1-A. (A) ANY LOCAL LAW, ORDINANCE OR RESOLUTION  ADOPTED  PURSUANT  TO
    4  PARAGRAPH  (A)  OF  SUBDIVISION ONE OF THIS SECTION MAY BE AMENDED, OR A
    5  LOCAL LAW, ORDINANCE  OR  RESOLUTION  MAY  BE  ADOPTED,  TO  PROVIDE  AN
    6  EXEMPTION  TO  THE  EXTENT OF SIXTY PERCENT OF THE ASSESSED VALUATION OF
    7  REAL PROPERTY IF THE INCOME OF THE OWNER OR THE COMBINED INCOME  OF  THE
    8  OWNERS OF THE PROPERTY FOR THE INCOME TAX YEAR IMMEDIATELY PRECEDING THE
    9  DATE  OF  MAKING  APPLICATION  FOR AN EXEMPTION EXCEEDS THE SUM OF THREE
   10  THOUSAND DOLLARS, OR SUCH OTHER SUM NOT LESS THAN THREE THOUSAND DOLLARS
   11  BUT NOT MORE THAN TWENTY-TWO  THOUSAND  DOLLARS,  WHILE  SATISFYING  ALL
   12  OTHER  ELIGIBILITY  CRITERIA  ESTABLISHED  PURSUANT  TO THIS SECTION. NO
   13  OWNER OR OWNERS OF PROPERTY ELIGIBLE FOR A  REDUCTION  IN  THE  ASSESSED
   14  VALUATION  PURSUANT  TO THIS SUBDIVISION SHALL BE ELIGIBLE FOR A FURTHER
   15  EXEMPTION PURSUANT TO THIS SECTION.
   16    (B) ANY LOCAL LAW, ORDINANCE OR RESOLUTION ADOPTED PURSUANT  TO  PARA-
   17  GRAPH  (A) OF THIS SUBDIVISION MAY BE AMENDED, OR A LOCAL LAW, ORDINANCE
   18  OR RESOLUTION MAY BE ADOPTED, TO PROVIDE AN EXEMPTION SO AS TO  INCREASE
   19  THE  MAXIMUM  INCOME  ELIGIBILITY LEVEL OF SUCH MUNICIPAL CORPORATION AS
   20  PROVIDED IN THIS SUBDIVISION (REPRESENTED IN THE HEREINBELOW SCHEDULE AS
   21  M) TO THE EXTENT PROVIDED IN THE FOLLOWING SCHEDULE:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03807-02-4
       S. 3595--A                          2
    1  ANNUAL INCOME          PERCENTAGE OF ASSESSED VALUATION
    2                               EXEMPT FROM TAXATION
    3  MORE THAN (M) BUT
    4  LESS THAN (M+ $1,000)                  55%
    5  MORE THAN (M) BUT
    6  LESS THAN (M+ $2,000)                 50%
    7    S 2. This act shall take effect immediately and shall apply to taxable
    8  years beginning on and after January 1, 2016.