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NY S05557
NY S05557Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons sixty-five years of age or over and for persons with disabilities and limited income.
summary
Introduced
05/07/2019
05/07/2019
In Committee
01/29/2020
01/29/2020
Crossed Over
05/21/2019
05/21/2019
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the real property tax law, in relation to increasing the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons sixty-five years of age or over and for persons with disabilities and limited income The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill increases the maximum income property owners may earn to be eligible for the property tax exemption for persons 65 years of age or over and for persons with disabilities and limited income. Specifically, it raises the income threshold from $29,000 to $50,000 beginning July 1, 2020. This exemption allows eligible property owners to receive a reduction in their property taxes based on their income level.
Committee Categories
Health and Social Services
Sponsors (6)
Andrea Stewart-Cousins (D)*,
Alessandra Biaggi (D),
David Carlucci (D),
Anna Kaplan (D),
John Liu (D),
Rachel May (D),
Last Action
referred to aging (on 01/29/2020)
Official Document
bill text
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=S05557&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 05/08/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S05557&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05557A | 01/10/2020 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S05557&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05557 | 05/08/2019 |
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